The main political parties have not yet published their manifestos for the forthcoming general election, but plans for taxation measures have begun to take shape in a number of statements so far.
The Conservative party:
The main political parties have not yet published their manifestos for the forthcoming general election, but plans for taxation measures have begun to take shape in a number of statements so far.
The Conservative party:
has ruled out increases in VAT, but there is no guarantee that the ‘tax lock’ for income tax and NICs will be maintained.
The Labour party:
proposes tax increases for the ‘top 5% of taxpayers’, thought to mean those earning more than £80,000; according to IFS director Paul Johnson, this would raise less than £1bn;
no increases in income tax, NICs or VAT for the other 95%;
introduction of VAT on private school fees; and
suggestions that corporation tax would increase from 19% to 26% by the end of the decade.
The Liberal Democrats:
an immediate increase of 1% on all rates of income tax; and
The main political parties have not yet published their manifestos for the forthcoming general election, but plans for taxation measures have begun to take shape in a number of statements so far.
The Conservative party:
The main political parties have not yet published their manifestos for the forthcoming general election, but plans for taxation measures have begun to take shape in a number of statements so far.
The Conservative party:
has ruled out increases in VAT, but there is no guarantee that the ‘tax lock’ for income tax and NICs will be maintained.
The Labour party:
proposes tax increases for the ‘top 5% of taxpayers’, thought to mean those earning more than £80,000; according to IFS director Paul Johnson, this would raise less than £1bn;
no increases in income tax, NICs or VAT for the other 95%;
introduction of VAT on private school fees; and
suggestions that corporation tax would increase from 19% to 26% by the end of the decade.
The Liberal Democrats:
an immediate increase of 1% on all rates of income tax; and
