Green PPC (Eltham),
Arthur Hayles' reply
Do you agree in principle with the aforementioned policy?*
*no commitment to act upon the policy
Answer - "The 50p rate on incomes over £100,000 is Green Party policy.
Not happy with the selective personal allowance as it stands - what about the sudden jump between £17,999 and £18,000?"
In a generic sense, do you believe that the rich should pay more tax and the poor should pay less tax?
Answer - "Yes".
Do you pledge to campaign for income tax reform at the next parliament?*
*not necessarily as specified with the above policy
Answer - "Yes".
"I am happy to endorse your campaign on the basis you outline, subject to my comment about the selective personal allowance".
Re "what about the sudden jump between £17,999 and £18,000?"
ReplyDeleteAs it currently stands, a person that earns £18,000 a year will get taxed £2,305 (excl NI contributions and incl tax free personal allowance). This will remain the same under FTC policy, we are not changing this. Compared to the current system, they will not pay anything extra. However, those that earn less than £18,000 will be better off, in terms of paying less tax. This will be part subsidised by ensuring that the 50% additional rate is applicable for anyone that earns over £100,000 a year.
A minor tax gap anomaly will arise for those that earn £18,000 to £18,880. We propose that this can be covered by offering a tax rebate (in part or whole) to anyone that falls into the aforementioned band. As mentioned, compared to the status quo, those that earn less than £18,000 will be far better off as a direct result of our changes, in terms of paying less tax. Thus, millions of people on lower incomes will benefit from the changes that we propose.