He was responding to this notion of Chicken Run's that most people who talk about the poor and disadvantaged do nothing to help them.
How does he know that?
Something ridiculous like 99.5% of taxable inheritance is in the form of property, and in turn the vast majority of that property value is capital gain. Of course it should be taxed.
I see no reason at all why we should be reducing inheritance tax before reducing income tax or VAT. Income...
It will never get done. The problem is that it is the sort of policy that makes perfect sense but the risk is that it will be slaughtered as a "tax increase" by the opposition to the government of the day. Regardless of who has the balls to do it, it will need to be done in the first or second...
In truth, I find it hard to believe that simplifying personal tax rates isn't possible. For example, why doesn't any government abolish NI completely, and roll it into income tax? It would eliminate the issue of low salary/high dividends almost overnight. I'm sure some of the complex tax laws...
Clearly not.
Personally, I thought the replacement of the student grant with a loan was a pretty fair criticism. And the fact that inheritance tax has been reduced for the 5% who actually pay it is nothing more than a sop to the already wealthy.
I have to take issue with this. When you set yourself up as a firm, you end up having to pay both employee and employer national insurance. It's an odd situation but if you try and do the "right" thing by paying yourself a large salary as opposed to a large dividend, you actually end up...