Osborne commissions flat tax review
Flat tax reaches UK as Conservative party commissions review into the idea
The Tory party is considering plans for a flat tax, The Times
reported today.
George Osborne, the shadow chancellor, has set up a commission to investigate
the idea, in vogue amongst right-wing commentators.
A flat tax rate has been introduced in several Eastern European countries and
is understood to be an idea being considered by Angela Merkel in Germany.
Osborne rejected the idea that it would be a regressive tax system.
‘Most flat-tax ideas also involve a very high personal allowance. In other
words, for example, people wouldn’t pay tax at all on their first £10,000, or
£12,000, or £15,000 of income,’ he said.