Raise income tax not VAT, say finance managers

Income tax will have to rise to cut the public deficit, reducing public
spending will not be enough, warn UK finance managers.

survey of 1,000 private company finance managers finds
around two-thirds flag up an income tax rise alongside central government
spending cuts should be priorities.

Only a quarter believed a VAT rise or mansion tax were worthy of attention.

In terms of spending cuts, they want the government to leave the police, NHS
and local government largely alone, and instead focus on cutting waste in
central government departments and Quangos.

“Experienced finance professionals, who have to make hard decisions week in,
week out, are telling the new boys on the block not to tinker around the edges,
but to get straight down to the hard tack,” said Paul Lindsell, managing
director of Lindsell Marketing.

Further reading:

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hike could see 1 million pay more tax

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