Economy/Tax

Taxes are the main income for the Government and its source of its spending, every penny of the money collected by the Government needs to be justified and then spent wisely.

It is a basic principle that spending beyond your means can only lead to disaster.

Actions:

Simplify our costly and complex tax system, make it fairer but enforce it more rigorously.(Circa £3.6 billion owed in unpaid taxes)

Personal Tax
increase personal allowance over the course of Parliament to aroundtax £13,500 working with the premise that there will be  no tax payable up to a living wage.
Increase starting threshold for higher tax rate payers to £40,000.
No death duties on assets or monies that tax as paid on.

No tax on pensions – Greater provision made for those it receipt of pensions to allow them to undertake work
Taxing the wealthy too heavily is both problematic and counterproductive, plug dubious tax loopholes and avoidance schemes.

Businesses
Robust measures to make companies/corporations to pay a fairer tax on their earnings here. Make them publish the accounts of their earnings in other countries to prevent the hiding of devices to avoid payment.(such as paying for effectively using their own brand names)
Be creative with big businesses encourage them to fund Pioneer Corps projects etc both financially and in kind set partially against tax. Publicise those that come forward to encourage those who do not.
Raise VAT threshold to help those truly small businesses that are often the acorns of our future development. Enforce VAT collection rigorously.

Business Rates are based on a really outdated model as such they need an urgent review so they are fairer and encourage enterprise. It would be better for new businesses to pay in relation to their turnover so as they grow their businesses they then pay more, their tax returns evidence their turnover. There is an inbuilt unfairness that benefits a business with small floor space but sells high value goods against a business that by its nature needs a bigger or large floor space but the goods are often inexpensive or of a moderate value.

Introduce business rates for on-line businesses that compete with the high street business sector. Thus addressing a basic unfairness in addition to being a factor in the decline of our town and city business districts.

Move towards a living wage during the term of next parliament instead of effectively subsidising firms that pay minimum wages to workers that are then topped up with in-work benefits by the state. Review Zero-hour contracts.

More support for those small businesses who still have late payment problems with bigger companies.

Other
Scrap the BBC licence and replace it with a fee system.                                                      The BBC is extremely free with licence payers money in general.Yet non-payment of the licence clogs up the courts who issue fines that are then not fully recovered. Why should the court be used at further cost to tax payers- why do the BBC not pay this cost?

Scrap Road Tax
Review and reduce Green Taxes.
Review and reduce unrealistic Green subsidies.
Savings made coming out of the EU will help improve the country’s budget.
Taxes imposed on all European transport vehicles entering and using British roads.
Stamp Duty needs to move a  more rational format with rates payable for the percentage of the band that applies, raise the starting threshold to £500,000.

Scrap Bedroom Tax. It’s discredited, unworkable and a total mess.

As around one third of councils’ income comes from these rates more action is needed to reduce the amount of Council and Business rates currently outstanding in England.

A recent Audit Commission report reveals that £4.55 billion remained unpaid at the end of March 2014. (That debt consisted of over £1.21 billion of outstanding council tax and business rate payments that councils were unable to collect for 2013/14 and £3.34 billion due to councils from previous years).