Tag Archives: wealth taxes

Higher-rate tax and Danny Alexander’s time-limited dead body

This was the couldn’t-be-clearer headline in the Mirror today, atop an interview with Lib Dem chief secretary to the treasury Danny Alexander:

danny alexander mirror headline

Defiant Danny Alexander today opened up a fresh rift within the Coalition Government by vowing to block Tory plans for yet another tax cut for the rich. … His comments will enrage Conservative MPs who are pushing to slash the rate from 45p ahead of next year’s General Election. It comes just days after David Cameron refused, on three occasions, to rule out cutting tax. But

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Opinion: Why Wealth Can’t be Taxed (except very occasionally)

Wealth tax is becoming, or has become?, a core Lib Dem policy. Nick Clegg shakes his head alongside his Cabinet colleague the Chancellor of the Exchequer announcing that the coalition government will not introduce a mansion tax. Vince Cable is back on the World at One the next day defending it.

There has been much discussion as to whether wealth and mansion taxes are fair. But fairness is a very subjective concept. Some think that wealth taxes appropriately ask the rich to shoulder relatively more of the financial burden imposed if we needlessly insist on the financial orthodoxy that the …

Posted in Op-eds | Also tagged | 133 Comments

LibLink: Jonathan Portes on wealth taxes & ensuring the ‘rich’ pay their fair share

Jonathan Portes, director of NIESR and former senior Treasury official, is not a Lib Dem — he recently contributed to LibDemVoice to critique the Coalition’s economic policy — but he is addicted to robust evidence. And the recent spate of right-wing commentators rubbishing the Lib Dems’ call for increased wealth taxes to help tackle the current economic crisis has roused his ire:

The Liberal Democrats call for a “mansion tax” (that is, a higher rate of council tax for the most expensive properties), possibly supplemented by some form of wealth tax seems to have provoked a peculiarly illogical misuse of

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Cable: no to regional pay; Clegg: yes to taxes on wealth; Alexander: tougher tax rules

News snippets from today:

Speaking on the Andrew Marr Show this morning, the Liberal Democrat leader ruled out the possibility of the Government filling the gap in public finances through cuts to the welfare budget – something reportedly being mooted on the Conservative benches.

He said the Government would “start at the top and work down”, and was optimistic about his chances of persuading his Conservative colleagues to agree to a so-called ‘wealth tax’.

 

Cable said that introducing regional pay was “completely unacceptable” and “terrible economics”. He said that although the Lib Dems were prepared to contemplate a measure of public sector pay

Posted in Conference and News | Also tagged , , , , and | 3 Comments

Wealth taxation is now firmly on the government’s radar

As part of the long-standing Liberal Democrat commitment to fair taxation, expressed so clearly by David Laws, the party has often called for a greater emphasis on wealth taxes.

As a direct result of these calls, it is now clear that the government is considering some form of wealth taxation to help deliver another long-standing Lib Dem tax policy – giving millions of low- and middle-earners a welcome boost by raising the income tax threshold to £10,000.

The precise nature of increased taxation on wealth is a topic of much discussion. Radio 4’s Today programme carried an interesting discussion of …

Posted in Op-eds | Also tagged , , and | 8 Comments

90% of Lib Dem members back 50p tax for highest earners & 73% increased taxes for wealthiest

Lib Dem Voice has polled our members-only forum to discover what Lib Dem members think of various political issues, the Coalition, and the performance of key party figures. Some 570 party members responded, and we’re publishing the full results.

90% of Lib Dem members back principle of 50p rate

LDV asked: In 2009 a new top rate of income tax of 50p in the pound was introduced for earnings over £150,000. Previously the top rate of income tax had been 40p in the pound. At what income level do you think the Coalition Government should set the 50p top rate of income tax?

    2%

Posted in LDV Members poll | Also tagged | 13 Comments



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