I think there is a big case for the windfall tax on the energy companies.
There is a big case for a middle-class tax cut too – to remove some of the people who have tripped over into the higher rate tax bands, such as teachers who can now be paying the same rate of tax as the big bankers, We could deal with that, and that would work across our electoral coalition too.
And some of the extraordinarily wealthy should take the strain, because the whole way we calibrate the tax system isn’t right.
And that is a coming debate.
Saturday, 20 September 2008
Cruddas: call for middle-class tax cut
Jon Cruddas speaking at the Fabian fringe debate 'Can we give the white working-class what they want?' argued that a new 'fairness' approach to taxation should mean a higher rate on top earners but also cutting taxes for middle-class earners, suggesting that this might done by moving the upper rate tax bands further up the income scale.