Local Liberal Democrat Councillors were out on the streets of Southport today as part of a national Lib Dem ‘Fairer Taxes’ Action Day. The Councillors were seeking to gain support from members of the public for further moves to cut down on tax avoidance, increase taxation on the ultra-wealthy and to give further tax reductions to the ordinary working man and woman.
So far, the Lib Dems in the Coalition Government have: Stopped the Tories from giving their (Manifesto) planned massive Inheritance Tax hand-out to millionaires Taken roughly two million lowest paid workers out of Income Tax altogether Delivered a £600 ‘payback’ of tax to low and medium-paid workers which has offset some of the other difficulties of dealing with austerity measures. This was done by raising the income tax threshold to £9,440 and the Lib Dems aim to have this raised to £10,000 in the next Budget Increased Capital Gains Tax to 28% for higher rate taxpayers whilst keeping it at 18% for basic rate taxpayers Invested nearly £1 billion to crack down on tax avoidance, raising an extra £9 billion per year by 2015 Restored the link between pensions and earnings, scrapped by Margaret Thatcher and totally ignored by Labour – and introduced a scheme to ‘ratchet-up’ pensions compared to incomes. Introduced a banking levy so the banks pay a their fair share of tax HMRC have published an analysis of how tax rates have changed between Labour and the Coalition. Far from giving his ultra-rich chums more money as planned, the realities of the Coalition has forced Chancellor George Osborne to switch the balance of taxation overall towards the poorer end of the workforce:
The leaflets being handed out to shoppers by the councillors highlighted some of the above issues. They were distributed outside one local coffee shops which DOES pay UK taxes (Pippins) and one (Cafe Nero) which the Sunday Times says is about as bad as Starbucks in not paying Corporation Tax:
Leaflets were also handed out outside the closed-down Top Shop and Principles stores on Chapel Street. Top Shop (Arcadia) owner, multi-billionaire Sir Philip Green famously reduced his tax payments on hundreds of millions of pounds of profits under Labour by paying massive tax-free dividends to his wife’s account in Monte Carlo. This is perfectly legal as Arcadia was bought in Lady Green’s name. In 2005, under Tony Blair, Arcadia’s dividend payments to Lady Green peaked at £1.2 billion! Note that Sir Phillip, who, unlike his wife, is resident in the UK, does pay some taxes.
Sir Phillip and Lady Green
Labour’s former Chancellor, Gordon Brown
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