Letwin pledges lower tax economy
Shadow chancellor Oliver Letwin today said a Conservative government would reform the tax system and reduce 'wasteful government spending'.
However no specifics were given.
Letwin identified five areas of the tax system he regards as ‘manifestly unfair’. These include council tax, inheritance tax, stamp duty, income tax and national insurance thresholds and taxation of savings and pensions.
Capital gains tax, taxation of small businesses and environmental taxes were also three areas the Tories regard as ‘over complicated’.
‘Thinning down fat government is not merely an option but a moral necessity for the next Conservative government. It is the route to making Britain’s tax system simpler and fairer,’ Letwin told the Tory Bournemouth conference.