David Cameron struggles to clarify Tory tax policy
With the opinion polls giving the Conservative Party a 12 point lead over the UK government David Cameron is coming under more and more pressure to clarify the Conservative tax policy for the future. After hinting that a Tory government would at least reverse part of the impending national insurance increase he is now being asked to clarify how the tax system would be used to recognise marriage.
At a time when the Labour Party is literally ripping itself apart there is concern that David Cameron has been unclear in various pledges and comments in the press. A number of observers believe that the election is now "David Cameron's to lose" but he does need to clarify the Conservative party's policy on taxation before election-day. Shadow Chancellor the Exchequer George Osborne has apparently suggested different strategies and different focuses when he has been questioned by the media.
Whatever happens, the next UK government will need to increase the tax income from UK consumers and UK businesses. There is no getting away from the fact that UK finances are in a serious mess and need to be sorted out as soon as possible. Even though the Labour Party has gone on the offensive regarding the Tory taxation policy, the UK government has not exactly been forthcoming regarding its own election pledges.
Share this..
Related stories
Will David Cameron's gamble pay off?
As we covered in one of our earlier post, Tory leader David Cameron has today suggested he would scrap the 50p top tax rate if it was shown to bring in no money for the UK government. While this is almost certainly a major gamble by David Cameron to show that he is both pragmatic and realistic about the UK tax system it could well play into the hands of the Labour Party as we approach the general...
Read MoreMPs suggest £2 billion a year lost in taxes through illegal employment
MPs across the Houses of Parliament have today come out to criticise the cash in hand culture which is prominent in many parts of the UK. Estimates suggest that upwards of £2 billion a year is lost in taxes as cash in hand employment does not normally go through the books and therefore no taxes are recorded or collected. The situation is likely to get worse in the short term with more and more pe...
Read MoreBank of England confirms rescue bill hits £1 trillion
The Bank of England has today reported that the rescue packages introduced by the Bank of England and the UK government have resulted in £1 trillion of taxpayer's money being pumped into the system. However, more worrying is the suggestion by Mervyn King that UK banks are still nowhere near strong enough to battle for themselves and substantial additional taxpayer funding will be required in the...
Read MoreIs a tax on bankers really a tax on society?
As the UK government leads the way with regards to a tax on banking bonuses there are concerns that in reality a tax on bankers is really a tax on society. Despite the fact that bankers will initially take the pain, although many banks have promised to add any taxation liabilities on top of agreed bonuses, it will inevitably flow down the line to customers of the UK banking arena. So is a tax on b...
Read MoreFTSE 100 edging closer to 5000 level
It has been a difficult few days for the FTSE 100 index which fell a further 54 points today to 5046.47 as investors become more and more concerned about the UK economy and the outlook for the worldwide economy. Even though George Osborne's budget was fairly well-received within the city it seems that the reality of the UK economic situation is only now starting to hit home with many people and so...
Read More