- New production quotas on broadcasters, forcing popular American television shows off the airwaves.
- Hammering companies with a Ł100 million compliance burden to administer local income tax.
- Introducing ‘reserve deposits’ on mortgage lenders, making it more difficult to get on the housing ladder.
More tax isnt neccesarily a bad thing if the tax money actually goes to something worthwhile (like schools, hospital, public transport, infastructure etc etc)... but if the money is wasted on crap like invading other countries for no reason, then i resent paying more because it costs alot of money to kick someones ... regardless if its justified or not.
Originally posted by John bull 1
Do UKIP even have a policy on Tax or anything else for that matter other than Europe ? Seems a bit ripe to me for a supporter of a single policy party to mock others.
Excessive taxation - of individuals and businesses - stifles initiative, reduces employment and encourages dishonesty. It also makes Britain less competitive in the global marketplace. Tax policy should be framed to encourage investment, to enhance our global competitiveness, and to create rather than remove incentives to work and save.
The UKIP believes that these criteria call for a wholesale reappraisal of British tax arrangements over the longer term. However, one area in which immediate relief can be granted is tax for the lower paid, making employment more attractive. The UKIP will raise the starting threshold for income tax with the object of removing a further 1 million lower paid individuals altogether from tax, with suitable adjustments so as to leave higher rate taxpayers unaffected. The UKIP will also immediately consider the reform of capital gains tax and inheritance tax, and will remove the main family residence from inheritance tax and introduce further IHT exemptions.
In addition to tax reduction, the UKIP believes there is much to be gained by simplification of our system of taxation, an issue that successive UK governments have only made worse, an example being the new system of tax credits. The complexity of our taxes is completely out of hand, and it causes assessment to be an excessive burden both to the revenue authorities and to taxpayers and their professional advisers, besides leading to errors. In consultation with business and with the Accountancy and Taxation Institutes, the UKIP would aim for a taxation system that is fair and reasonable with simple, concise and clear objectives. In particular we should aim for taxes that are easy to calculate and collect without resort to the courts. The Tax Faculty of the Institute of Chartered Accountants in England and Wales describes the problem in frank terms – "Britain's tax system has spun out of democratic control and become detached from the principles of good revenue raising."
The UKIP would pay immediate attention to simplifying or scrapping the self-assessment system, and to the procedures involved in calculating value added tax (VAT). We also note that VAT is an EU tax - our membership of the EU obliges us to use the VAT system. Outside the EU, the UKIP would be in a position to consider the merits of replacing VAT by a tax applied to retail sales.
Above all, freedom from the EU would forever remove the threat of 'tax harmonisation'. The European Commission remains insistent on this measure as part of its obsession with promoting its own notion of 'competitiveness'. For the UK, tax harmonisation would imply that our tax rates rise to the generally higher levels prevailing in other EU countries. There has, for instance, been no relaxation in the EU's continued pressure for the UK to apply VAT to basic food, childrens' clothing, books, transport and other items that are currently 'zero-rated'.
Average unemployment in the rest of the EU remains around twice as high as in the UK, despite the recent economic growth in euro-zone countries. The UKIP associates this difference with the UK's lower taxes, lighter regulation and general approach to business, all of which are being eroded by our continuing participation in the European Union.
The setting of tax rates is one of the most fundamental duties of our elected government. The UKIP is the only party that can promise that this responsibility is not progressively handed to Brussels.
Is this just an extention of another thread?