href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
The Liberal Democrats claim their proposals will result in a fair, efficient and honest tax system. Reform of local taxation is the party’s highest priority in this area
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Income tax and national insurance contributions would be merged into an integrated tax on income.
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
The Council Tax would be replaced with a local income tax while the Uniform Business Rate would be replaced with a new tax, Site Value Rating (SVR). This tax would be based on the value of the land, not on the buildings on it, and set by local councils according to the local community’s priorities.
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
The contributory principle would be abolished, so basing entitlement to pensions and Unemployment Benefit on need and not on money paid.
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Taxation would be reformed so that about 50,000 of the UK’s lowest paid workers would be taken out of the tax net altogether.
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
The starting point for the higher rate tax band would be raised by at least £5,000.
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Three higher rate tax bands, to start significantly above that at which the current 40% rate starts, would be introduced. The highest tax rate would be 50%, and would only be charged on income earned in excess of £100,000 pa – i.e. that of the super rich.
Click on the headlines below to view a selection of EGi stories on tax and government finances
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
£3.5bn of private finance earmarked for transport over next three years (EGi News 28/11/96)
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Chancellor ignores calls for tax breaks on indirect property investment (EGi News 27/11/96)
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Gummer relaxes local authority rules on capital receipts and the transfer of housing stock (EGi News 28/11/96)
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Industry forces climbdown on property VAT clause (EGi News 05/03/97)
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Housing market welcomes changes to inheritance tax relief (EGi News 27/11/96)
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
MPs back minor amendments to property VAT clauses but crucial issues remain (EGi News 14/02/97)
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
Property industry fails to secure major concessions from Government on finance leases (EGi News 14/03/97)
href=”http://www.eginew.co.uk/Articles/ArtIcle.aspx?liArticleid=447255″>
The Budget’s main details (EGi News 27/11/96)
Use the search facility on EGi News and EG Archive to find all the stories that EGi has published on these issues.
EGi Election 1997
