Green PPC (Newton Abbot),
Corinne Lindsey's reply
"Dear Team at Fairer Tax Campaign,
Thank you for your email. I would like to reply to your three questions by dealing with them together and by showing you the Green Party postion on tax taken from our manifesto. You can see the manifesto in full at":
Taxes to reduce Inequality
"We support a special tax on bankers’ bonuses,
though we would make it permanent.
Also, no one in one of the wholly or partly
state-owned banks should get a bonus of
more than £25,000. And our changes to
pension tax reliefs (see box on page 13) will
radically reduce the huge advantages the
present pension system gives to the most
wealthy. But this is only a beginning.
We would also:
• Introduce the new higher rate of income
tax at 50% for incomes above £100,000,
raising £2.3bn pa.
• Abolish the upper limit for National
Insurance contributions, raising £9.1bn
in 2010.
• Help lower earners by raising the lower
National Insurance limit to the personal
allowance rate (which is £6,475 a year,
or £124.52 a week), costing £3.9bn.
• Help lower earners by reintroducing the
10% tax band and the 22p basic rate,
costing £14.9bn.
• Increase the main rate of Corporation Tax
from 28% back to 30% and reduce the small
firms rate back to 20%, altogether raising
£1.4bn.
• Raise the Capital Gains Tax rate from 18%
to the recipient’s highest income tax rate
(that is 22%, 40% or 50%), raising £1bn.
• Reform inheritance tax, so that the level
of taxation depends on the wealth of the
recipient rather than that of the deceased,
raising £3bn by 2013. This will encourage
people to distribute their property widely.
• Crack down on tax havens and other
methods of tax evasion and avoidance, raising
£10bn in 2010 rising to £13bn by 2013.
In particular press for a transparent international
accounting standard that requires
companies to report on a country-by-country
basis so that their profits can be located
and taxed.
• Reform Council Tax by making people in
more expensive houses pay more and those
in smaller ones less, adding an additional
band at the top for the biggest houses,
raising £1.7bn. In the long run we favour
moving to a system of Land Value Tax, where
the level of taxation depends on the rental
value of the land concerned".
"We agree that tax needs to be reformed in order to produce greater equality".
Corinne Lindsey
Corinne Lindsey
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