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177. Today's crazed loon idea - Adam Smith Institute

So, we know very well that the government is spending very much more than it is raking in in taxes. There should be some solution to this at some point. At least we hope there will be. But perhaps not this solution:What might be fairer would be to treat capital gains in houses just like any other financial asset and tax it at 28pc.Given the turnover of the UK housing market and the gains built into it, it isn’t fanciful to think that, in a good year, the Government could raise £20bn to £30bn a year alone from this source.For those inflamed by the inequities of the North-South divide, they will be pleased to know that the bulk of anything raised in this way would hit the south east of England hardest.How wonderful: increase the taxation of the most successful part of the economy.
URL: http://www.adamsmith.org/blog/tax-spending/todays-crazed-loon-idea/ - 46KB - 16 Feb 2015
Excerpt: like any other financial asset and tax it at 28pc given the turnover of...

178. Osborne brushed off his aide's warning to drop granny tax on eve of Budget | Mail Online

In a dramatic showdown, Tory MP Sajid Javid, George Osbornes Parliamentary Private Secretary, begged him to call off the proposals, saying they would result in a fierce backlash from voters.
URL: http://www.dailymail.co.uk/news/article-2153731/Osborne-brushed-aides-warning-drop-granny-tax-eve-Budget.html - 150KB - 03 Jun 2012
Excerpt: his aide s warning to drop granny tax on eve of budget by simon walters...

179. Labour attack Boris for Council Tax cut | Local Government

Today has seen a huge, perhaps critical, mistake by the Ken Livingstone campaign in their response to the decision of the Mayor of London Boris Johnson to cut the Council Tax precept by 1%. They have attacked it superficially on the grounds of its modesty:Labour's London Assembly budget spokesman, John Biggs, points out that Boris Johnson's decision to cut his share of the council tax will save the average Londoner 26p a month - enough to buy one onion.The Mayor today announced that he will cut City Hall's share of council tax by £3.10 a year - 26p a month, 6p a week, or less than a penny a day.On the same logic an earlier Labour press release made the point that a 1% rise would only cost 26p a month. We could all just cut back on the onions a bit and see our money go on reinstating a few Diversity Awareness Co-ordinators at City Hall.
URL: http://conservativehome.blogs.com/localgovernment/2012/02/labour-attack-boris-for-council-tax-cut.html - 55KB - 01 Feb 2012
Excerpt: labour attack boris for council tax cut today has seen a huge perhaps...

180. Slash state spending to fund tax cuts, demand Tories | Mail Online

State spending must be slashed further to pay for tax cuts, senior Tory MPs insisted yesterday.They called on the Chancellor to stop appeasing the Liberal Democrats and use the Budget to make the ‘moral argument’ that lower spending can boost growth.David Ruffley, who sits on the Treasury select committee, said George Osborne could save £1billion by abolishing the business ministry run by Vince Cable of the Liberal Democrats.‘The Chancellor of the Exchequer has played a very skilful hand but he has been constrained by the forces of conservatism in the coalition, the Lib Dems,’ he added.‘We need to call their bluff, reopen the spending round and pay for funded tax cuts.
URL: http://www.dailymail.co.uk/news/article-2107405/Slash-state-spending-fund-tax-cuts-demand-Tories.html - 136KB - 28 Feb 2012
Excerpt: slash state spending to fund tax cuts demand senior tories as they...

181. Now small firms are targeted by taxman: After the sweetheart deals with big business, HMRC plans...

Tax inspectors are threatening tens of thousands of small firms with fines if they fail spot checks on their paperwork.The HM Revenue & Customs crackdown comes despite a Government pledge to cut red tape and regulation for small businesses.Tory MPs say the proposed blitz on small firms is a disgrace and must be dropped.HMRC has been piloting the ‘business record checks’ in eight areas. Inspectors trawl through company paperwork dating back several years looking for what they deem to be inadequate proof of expenses and income.Firms found to have failed to keep or preserve records ‘in real time’ can be fined up to £3,000. The pilot projects suggest that around 12 per cent of firms would fail the audit.Under the HMRC’s plans to expand the checks, as many as 20,000 small businesses will face demands to show receipts for income and expenditure. Those who are unable to do so will face penalties, which business leaders warn could push some into bankruptcy and hit the economic recovery.John Walker, national chairman of the Federation of Small Businesses, said: ‘Despite the worsening economy HMRC are launching this scheme regardless of the consequences.Conservative MP Priti Patel accused HMRC of harassment, adding: ‘The attitude of HMRC to small businesses is frankly disgraceful at a time when they are blatantly doing deals with large firms which have allowed them to escape millions of pounds in tax liabilities. At a time when small businesses need all the help they can get, the attitude of HMRC seems completely counterproductive.‘Instead of persecuting small firms, they should ditch this entire project and start working with them to support them in whatever way they can at a moment of economic difficulty.’Anne-Marie Morris, Tory MP for Newton Abbot and a member of an all-party group on micro-businesses, said: ‘Very small businesses are being treated in the same way as larger ones with better resources.‘It is simply not practical for a company employing just a few people to spend huge sections of their day on administration as well as getting their firm off the ground.’
URL: http://www.dailymail.co.uk/news/article-2081461/Now-small-firms-targeted-taxman-After-sweetheart-deals-big-business-HMRC-plans-checks-3-000-fines-missing-paperwork.html - 131KB - 03 Jan 2012
Excerpt: 3rd january 2012 comments 0 share tax inspectors are threatening tens of...

182. EU plan to slap VAT on food | Express.co.uk - Home of the Daily and Sunday Express | UK News

EU plans for a radical tax shake-up could cost struggling families and pensioners £800 a year.The European Commission wants VAT exemptions on food, children’s clothes and other essentials abandoned in an effort to harmonise the sales tax across Europe.Its plans come after the Coalition raised the VAT rate to 20 per cent last year but kept an exemption for food, children’s clothes, passenger travel, books, newspapers and other products.Last night the proposals sparked outrage among politicians and public-spending campaigners who attacked the Eurocrats for trying to interfere in ­Britain’s tax affairs. Ukip leader Nigel Farage said: “In their desperation to raise cash, the EU is prepared to do anything and hurt the most vulnerable.
URL: http://www.express.co.uk/posts/view/293240/293240 - 60KB - 05 Jan 2012
Excerpt: your say 32 eu plans for a radical tax shake up could cost struggling...

183. Spare us the fibs about the EU and the Euro

The “debate” about the EU and Euro remains higgled by misunderstandings that serious people peddle out. Let’s just deal with a few of them.1. If the UK makes a stand or declines to support the Merkel plan, we could lose the 10% of our National Income based on exports to the EU.Response: Whatever happens at summits, Germany will still want to sell us cars and France will still want to sell us wine. The UK will still be selling products and services in the EU, under existing EU rules and WTO controls. That does not change, whatever we do or say on the architecture of the EU and Euro.2. The Merkel plan for greater fiscal controls will save the Euro.Response:The Merkel scheme does not suddenly shrink the Greek deficit, or miraculously refinance the large Italian debt. Printing money could buy them a bit of time, but is not conditional on changes to rules and Treaties. Nothing in the Merkel plan solves the twin probems of too much debt and too little competitiveness in the problem countries.
URL: http://johnredwoodsdiary.com/2011/12/09/spare-us-the-lies-about-the-eu-and-the-euro/ - 210KB - 10 Dec 2011
Excerpt: a disaster 8211 and merkozy want to tax and effectively destroy the uk...

184. Conservatory Tax? It was bonkers, insists Cameron as he pledges to veto plans that would cost...

David Cameron denounced plans for a ‘conservatory tax’ as bonkers yesterday.He pledged to veto the proposals that would have forced homeowners to spend hundreds of pounds extra on energy efficiency when they build an extension or fit a new boiler.The Mail revealed yesterday that Tory ministers were in revolt over the plan – an element of the so-called Green Deal.Former Energy Secretary Chris Huhne, the original architect, hit back yesterday accusing senior Tories of ‘posturing’ against the guidelines which are meant to encourage homeowners to invest in insulation and other energy-saving measures.Senior Lib Dems initially suggested they would back Mr Huhne and would continue to fight for the plans.But No10 made clear that the Premier will kill the guidelines stone dead.
URL: http://www.dailymail.co.uk/news/article-2130792/Conservatory-Tax-It-bonkers-insists-Cameron-pledges-veto-plans-cost-homeowners-hundreds.html - 160KB - 17 Apr 2012
Excerpt: c clear 5 day forecast conservatory tax it was bonkers insists cameron as...

185. George Osborne accused of egging on 50p rebels | Mail Online

Senior Liberal Democrats accused the Chancellor of ‘whipping up’ opposition to the 50p tax rate yesterday as business leaders warned it is causing ‘real economic damage’.The row erupted after George Osborne was accused of encouraging 500 businessmen to sign a letter calling for the abolition of the top rate.LibDems said there was no prospect of ditching the 50p rate unless the Tories replace it with a mansion tax.
URL: http://www.dailymail.co.uk/news/article-2109002/George-Osborne-accused-egging-50p-rebels.html - 151KB - 02 Mar 2012
Excerpt: on 50p rebels he s whipping up tax rate opponents say libdems by tim...

186. Lib Dems 'corrosive' plan for tax grab on pension pots of middle class | Mail Online

Nick Clegg’s party is calling for the total amount that can be saved into a pension pot without incurring punitive taxes to be slashed by a third from £1.5million to £1million.
URL: http://www.dailymail.co.uk/news/article-2280843/Lib-Dems-corrosive-plan-tax-grab-pension-pots-middle-class.html - 227KB - 19 Feb 2013
Excerpt: lib dems corrosive plan for tax grab on pension pots of middle...

187. America's fiscal fix could help Britain too - Telegraph

Flatter taxes are one of the best ideas for raising US revenues - so let's try them here.It’s possibly unwise to bet on it, but it still seems more likely than not that at some stage over the next month a deal to fix America’s “fiscal cliff” will be struck that hopefully removes a potent source of uncertainty from the global economy. Failure by Republican leaders to push through their own proposals for averting the cliff is certainly a setback, but not necessarily a fatal one.If Congress does nothing, then tax rises and spending cuts equal to around 4 per cent of GDP will automatically kick in, with devastating consequences for the immediate economic outlook – hence the term “fiscal cliff”.
URL: http://www.telegraph.co.uk/finance/economics/9758379/Americas-fiscal-fix-could-help-Britain-too.html - 69KB - 21 Dec 2012
Excerpt: one if congress does nothing then tax rises and spending cuts equal to...

188. Exclusive: Admit you'll have to raise taxes if you win next election, Ed Miliband told - UK...

Labour must come clean with the public and admit it will need to raise taxes after the 2015 general election, a former adviser to Tony Blair and Gordon Brown has urged.
URL: http://www.independent.co.uk/news/uk/politics/exclusive-admit-youll-have-to-raise-taxes-if-you-win-next-election-ed-miliband-told-9322962.html - 200KB - 05 May 2014
Excerpt: care he also proposes curbs on tax relief on pension contributions for...

189. Mansion tax plan is foiled by Eric Pickles - who deletes data | Mail Online

Schemes for a mansion tax have been torpedoed by Eric Pickles, pictured, after he effectively deleted a database containing details of millions of homes.Some Tories fear that the Lib Dems are agitating for a mansion tax safe in the knowledge that the Conservatives will not agree to one – allowing them to paint their coalition partners as ‘friends of the rich’ at a time of austerity.Tory MP Peter Bone praised Mr Pickles’s decision.‘This mansion tax would cost goodness know how many millions to get up and running,’ he said. ‘People would suddenly find the houses they live in being valued at some enormous sum, very often having lived there for years and years or perhaps having inherited the property.‘We know the Liberals don’t like anyone that has been successful but this really would be an unfair tax. It’s good that the Government has got rid of the information that could have been used to calculate it – why should the State be keeping databases like this?’
URL: http://www.dailymail.co.uk/news/article-2113610/Mansion-tax-plan-foiled-Eric-Pickles--deletes-data.html - 145KB - 24 Mar 2012
Excerpt: periods 5 day forecast mansion tax plan is foiled by pickles...

190. Imagine the explosion of growth if we got serious about tax-cutting - Telegraph

Those on the lowest incomes should pay no tax at at all; while the hard-pressed middle class should face a flat tax.Hiking the top rate of income tax is the exact opposite of what Britain should be contemplating.It is an ugly and counter-productive idea rooted in envy and pseudo-egalitarianism that would inflict great damage to the economy’s ability to nurture talent and retain capital, especially when combined with all of the other taxes planned by Labour.It would be the worst of possible imposts: it would inflict maximum pain but do nothing to reduce the budget deficit – and over time, by depressing economic growth and taxable income, it would actually damage the public finances.
URL: http://www.telegraph.co.uk/finance/economics/10602490/Imagine-the-explosion-of-growth-if-we-got-serious-about-tax-cutting.html - 77KB - 29 Jan 2014
Excerpt: of growth if we got serious about tax cutting those on the lowest incomes...

191. MPs to meet Chancellor about the Caravan Tax | Grassroots | The TaxPayers' Alliance

Ronald Reagan once famously said the nine most terrifying words in the English language are, “I’m from the government and I’m here to help.” Perhaps George Osborne and Treasury civil servants thought adding 20 per cent VAT to hot pasties was going to help resolve an anomaly, but as Tim Newark has pointed out this change could have a devastating effect on the Cornish Pasty industry in Cornwall.It’s the same story in East Yorkshire. I wrote about the Caravan Tax a couple of weeks ago. The Chancellor decided to end an anomaly that has existed since VAT was first introduced, and will from October start levying VAT on static caravans to bring them in line with touring caravans on which VAT is already paid.
URL: http://www.taxpayersalliance.com/grassroots/2012/04/mps-meet-chancellor-caravan-tax.html - 59KB - 13 Apr 2012
Excerpt: meet chancellor about the caravan tax comments feed rsd the taxpayers...

192. Ed Balls has just turned my house into a mansion. I'm not as happy about it as you might think -...

The Labour Party has officially anointed Dan Hodges as part of the landed gentry
URL: http://www.telegraph.co.uk/news/politics/labour/11177527/Ed-Balls-has-just-turned-my-house-into-a-mansion.-Im-not-as-happy-about-it-as-you-might-think.html - 117KB - 22 Oct 2014
Excerpt: in the details of his new mansion tax scheme although in reality it...

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