BORIS JOHNSON HAS URGED the chancellor to state a “clear direction of travel” on how the government will reduce taxes during the term of Parliament.
Johnson said there needs to be a clear definition in the next Budget outlining how the government plans to tackle high levels of income tax, The Telegraph reports.
The mayor of London thought he would never see the day other large European countries had lower tax rates than the UK.
“Can we endlessly go on with a tax rate that is higher than not just America and Japan but also France, Germany and Italy? All these countries we’ve always beaten on tax.” He added: “We need to set a course for low tax,” said Johnson.
“I know this is something George knows and he wants to do. Labour have created a climate that is miserable and anti-wealth creation and was resentful… it takes a real effort of political will to dispel that. I hope very much that that is what George will do and I will lay money he will. That is the way forward and I know he thinks this,” he added.
Making Tax Digital responses to the consultations expected in January 2017
Further corporation tax cuts and reliefs for cutting-edge tech businesses have been pledged by prime minister Theresa May, ahead of Wednesday’s Autumn Statement
The UK has not followed the global trend for reducing income tax over the past two decades
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