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Liberal Democrats to target the rich

The Liberal Democrats have revealed their plans for the future and taxation in the UK would appear to be their focal point. The party has revealed it would like to increase the starting threshold for income tax from £6,500 a year to £10,000. This would mean the average worker in the UK taking home an extra £700 a year while those in a more well off position would be hit by various other taxes.

The infamous "Mansion tax" is also receiving much mention in the press at the moment, a tax which is target primarily on homes worth £2 million, with various green taxes and pension tax relief also covered in the press. While there's no doubt that the party has thought long and hard about various tax issues, at this moment in time the best the party can hope for is to hold some sway in a hung parliament at the next election. If this was the case there is the opportunity to push forward a number of their plans in exchange for support for either the Conservatives or the Labour Party.

While lagging behind the Labour Party and the Conservative party in the polls, the Liberal Democrats could hold the balance of power and could become more prominent than they have ever been in the recent past.

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