Jo challenges Chancellor as Lib Dems reveal new tax plans

The Lib Dem proposals would mean lower tax bills for most East Dunbartonshire households

The new Chancellor of the Exchequer Alistair Darling has been challenged to stop letting down low income households by Jo Swinson.

Speaking in the House of Commons today, Jo revealed that 5 million households are worse off under the Government’s latest budget. She asked the Chancellor of the Exchequer:

“The Treasury’s own figures show that 5 million households are worse off as a result of abolishing the 10p tax rate and it is those on low and middle incomes are suffering most at the hands of this Labour Government. Will the new chancellor rise to the challenge of creating a fairer tax system, or will he continue his predecessor’s habit of acting like Robin Hood in reverse?”

Commenting later, Jo said:

“The Treasury admits that as a result of the last budget, 5 million households, many on low incomes, are losing out. It is to the great shame of this Government that in Britain today the poorest pay a higher proportion of their income in tax than the super-rich. Wealth inequality has actually risen since Labour came to power.”

The Liberal Democrats have unveiled far-reaching new plans on taxation today. The proposals include a cut in the basic rate of income tax to 16p, benefiting millions of people on low and middle incomes. Also under the new plans, tax loop-holes exploited by the super-rich would be closed and stamp duty would be reduced on properties worth less than £500,000.

Commenting on the new tax proposals, Jo said:

“The Liberal Democrats have put forward a new set of proposals that place fairness at the heart of the tax system. These plans would mean lower tax bills for most households in East Dunbartonshire as well as tackling inequality and environmental damage.

“Low and middle income earners in this country shoulder too heavy a tax burden, while the very rich too often escape through loopholes in the tax system.”

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