‘Politicians must find the courage to make radical changes to the tax system if they want to protect “squeezed-middle” voters while also promoting growth, according to Paul Johnson, director of the Institute for Fiscal Studies ...
‘[Mr Johnson proposes several measures including] an extension of VAT and a shake-up of the council tax system. But among his most far-reaching ideas are changes to tax credits and national insurance that aim to increase incentives for the over-55s and people with older children to remain in or re-enter the labour market ...
‘On VAT, he proposes that the zero or reduced rates attached to some goods could be ended. The money this would raise might go towards increasing benefits and reducing other taxes.’
Financial Times, 30 July 2012
This news story was first published on 1 August 2012
‘Politicians must find the courage to make radical changes to the tax system if they want to protect “squeezed-middle” voters while also promoting growth, according to Paul Johnson, director of the Institute for Fiscal Studies ...
‘[Mr Johnson proposes several measures including] an extension of VAT and a shake-up of the council tax system. But among his most far-reaching ideas are changes to tax credits and national insurance that aim to increase incentives for the over-55s and people with older children to remain in or re-enter the labour market ...
‘On VAT, he proposes that the zero or reduced rates attached to some goods could be ended. The money this would raise might go towards increasing benefits and reducing other taxes.’
Financial Times, 30 July 2012
This news story was first published on 1 August 2012
