Dundee LibDems back 4p cut in income tax
Dundee Liberal Democrats today (Tuesday 18th September) backed radical new tax plans that will drop the basic rate of income tax to its lowest level since 1916.
The plans, adopted by the Liberal Democrat Conference, will lift the tax burden on low and middle income earners, whilst making the rich and people with environmentally damaging lifestyles pay a fairer share.
The proposals in the document "Reducing the Burden" include reaffirming the commitment to abolishing Council Tax, replacing it with a tax based on ability to pay, removing tax loop-holes exploited by the super-rich, radically simplifying the tax code and reforming stamp duty to reduce the amount of tax paid on properties worth less than £500,000.
Liberal Democrat Shadow Chancellor Vincent Cable MP said, "Our new proposals will put fairness back at the heart of the tax system. Tax cuts for the majority will be paid for by the wealthy minority, as well as those with environmentally damaging lifestyles."
Here in Dundee, Liberal Democrat City Council Group Leader, Cllr Fraser Macpherson, said, "The Liberal Democrat proposals on taxation are about equity and fairness."