Fairer, simpler taxes
January 5, 2005 12:00 AM
We want to replace the unfair Council Tax with a fair and affordable Local Income Tax. This would be collected in the same way as current national income tax. At current spending levels, the Local Income Tax rate would be about 3.75%. It would only be paid by those people who currently pay income tax. It will not be an additional burden on the poorest. 70% of the population will be either be better off or will see no change under the new system.
We also plan a top rate of tax for the wealthiest 1% of taxpayers on their income earned over £100,000. This would allow us to abolish student tuition fees, introduce free personal care for the elderly and to help to smooth the transition from the unfair Council Tax to a local income tax based on the ability to pay.
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