Lib Dems call for Budget audits

Lib Dems call for Budget audits

The Liberal Democrats have called for every annual government Budget to be independently audited by accountants.

A summary of their assessment of the impact of their measures will then be sent out to every taxpayer with their tax return.

The new proposal was put to the party at the conference in Bournemouth by Liberal Democrats Treasury spokesman Mathew Taylor.

He attacked the government’s ‘stealth’ taxes, as the only way to stop government using them was a proper audit so people know what is being taken by the government and from where.

The move is part of leader Charles Kennedy’s drive for ‘transparency’ on tax.He said that people where seeing through ‘the increasingly phoney Dutch auction on income tax between Labour and Tories’.

People would support higher taxes if they could see they’ve been well spent. The Liberal Democrats committed themselves to lowering the ten pence tax rate to nought taking 1.4 million people on low incomes out of tax altogether.

They propose a new fifty pence tax in the pound top rate of income tax kicking in at £100,000 a year.

The party would also increase child benefit but tax it at the marginal rate for the highest earner in a household with at least one higher rate tax earner.

And the party reaffirmed its commitment to increase one basic rate income tax by one penny in the pound if necessary and to stuck as an extra £1.20 on every packet of cigarettes to pay for the restoration of free dental and eye tests.

Liberal Democrats

Lib Dem’s manifesto plans for devolved tax raising powers

Related Articles

Supreme Court rules against Pimlico Plumbers in landmark employment case

Legal Supreme Court rules against Pimlico Plumbers in landmark employment case

1w Alia Shoaib, Reporter
Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

Personal Tax Inheritance tax is 'unfit for modern society' and should be abolished, says think tank

2m Alia Shoaib, Reporter
Rent-a-room relief – the survey says…

Personal Tax Rent-a-room relief – the survey says…

3m Helen Thornley, ATT Technical Officer
What should the OTS prioritise in its review of inheritance tax?

Personal Tax What should the OTS prioritise in its review of inheritance tax?

5m Alia Shoaib, Reporter
LITRG urges government to consider tax changes in disability work plan

Administration LITRG urges government to consider tax changes in disability work plan

6m Lucy Skoulding, Reporter
HMRC appeal rejected in Tottenham Hotspur case

Administration HMRC appeal rejected in Tottenham Hotspur case

7m Emma Smith, Managing Editor
HMRC urged to clarify impact of income allowances on Self-Assessments

Personal Tax HMRC urged to clarify impact of income allowances on Self-Assessments

8m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

8m Emma Rawson, ATT Technical Officer