Fairer Taxes

- No income tax on the first £10,000 of individual income. Currently people going into relatively low-paid jobs lose their benefits and face an incredibly complicated tax credits system. It would be simpler and fairer and save on administration costs to not tax the first £10,000 of income. (My leaflets say £15,000, but thinking about it, this may well not be possible if public services and investment are to be maintained)

- A 50% rate of income tax on individual income over £150,000 (this would not be 50% of all income, but 50% of any income over £150,000 – e.g someone earning £200,000 a year would be taxed half of the top £50,000 or £25,000)  

- A 60% rate of income tax on individual income over £300,000

- A 70% rate of income tax on individual income over £500,000

- A local income tax to replace the Council Tax - Income taxes are the fairest taxes. The Council Tax is a strange cross between the unfair rates and income tax.

Crack down on tax evasion and avoidance by billionaires and big firms by co-operating with the rest of the EU and the OECD to close down tax havens. If they refuse to co-operate, ban all transfers of money to and from them and the UK and EU and ban all tourism to them until they agree to minimum EU and OECD wide tax rates. This tax evasion is estimated to cost the UK up to £85bn a year

End waste of taxpayers’ money

If cuts in public spending are required they should be in areas of massive waste which the main parties refuse to consider cutting as companies donating to their party funds profit from them. The current costs of these dwarf any supposed “efficiency savings” that could be made.

- No new PFIs/PPPs and look for breaches of contract to end existing ones – PFIs and PPPs are pushing up taxes and resulting in service cuts. Experts in NHS finance like Professor Allyson Pollock have shown that PFIs and PPPs cost between two and dozens of times as much as financing new hospital and school capital projects from taxation or by taking a loan from the private sector at 3 to 5% interest rates would. While PFIs and PPPs’ costs are not counted as debt this is a mere accounting trick which covers up the vast costs over decades under PPP and PFI contracts. The complexity of consortia with many sub-contracts also results in ridiculous delays in maintenance. Not even a light bulb can be changed in a PFI or PPP hospital without filling out forms and waiting for firms to haggle over who has the right to replace it (at several times the ordinary cost). It’s vital that the maintenance aspects of the contracts be renegotiated as soon as possible and that government lawyers be put on the look out for any breach of contract by PFI consortia so that these disasters can be ended. Under Brown as Chancellor and Prime Minister local councils have been given no option for funding any capital project except to accept a PFI or PPP – if they refuse the Treasury has refused them them funding. Smaller firms which are sub-contracted by the consortia of larger firms given PFI contracts are also often short-changed and paid late by the larger firms.

- End Export Credit Guarantees for arms exports – These are a waste of taxpayers’ money as they effectively subsidise arms sales to dictatorships and occupying forces

- No more public subsidies to privatised rail companies who take profits while taxpayers pay most of the costs of new investment