Heathcoat-Amory considers tax merger
New shadow trade and industry secretary David Heathcoat-Amory has floated the idea of merging the Inland Revenue and Customs & Excise as part of moves to simplify the tax system.
He made the suggestion at the Tory conference in Bournemouth this week. The accountant MP said the Chartered Institute of Taxation initiative – to ask MPs to fill in tax forms themselves – had opened many of their eyes to how complex the system had become.
He said: ‘I think I did a fairly good job. I do have some professional training, but it was a shock for some of my colleagues who have become out of touch with the tax system and how complicated it now is.
‘We do need simplify the tax system urgently. The problem is the complexity of individual’s and small firms.’
- Heathcoat-Amory yesterday set out his agenda for a slimmed down Department of Trade & Industry, the Financial Times reported today.He wants to abandon small company initiatives and regional venture capital funds.
‘I will deregualte before breakfast, before lunch and before tea,’ he told the FT. He pledged to stop the growth of the DTI before reducing it in size.
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