George Osborne’s planned financial services levy is a lamentable failure according to international benchmarks. The IMF has called for any banking tax in Britain to be set at £6 billion. Last week, Left Foot Forward highlighted the socially regressive nature of the £2.5bn tax which will mean banks contributing 50 per cent less than families (child benefit and tax credit cuts) to the government’s fiscal consolidation programme.
The recent IMF report on financial transaction taxes does not seek to endorse or dismiss the idea, but rather provide a categorical analysis and evaluation.
A financial transaction tax, more commonly known as the ‘Robin Hood Tax’, is a key tenet to Ed Miliband’s vision – with Sarkozy & Merkel, he can realise it.
Recent announcements of the coalition government’s cuts are to dramatically worsen the plight of Britain’s poorest and most underprivileged children, new research reveals.
One issue yet to be dissected by contenders to the Labour crown is taxation – and more specifically its principles. We may still be licking our wounds from one of our worst electoral defeats in history, but timidity is no recipe for renewing and building a revitalised progressive force to counter the growing threat posed by the ConDem coalition government.
Thousands of students are struggling to get into university, with demand far outstripping supply. Graduates are fighting tooth and nail for jobs and the chance to realise their aspirations – Labour must help them.
Capital gains tax reform is one of the biggest issues currently facing the Coalition Government; there is a major debate taking place on how the tax can be reformed & made fairer.
Progressives should stand against the reduction in corporate tax and argue for the point that a dynamic, highly skilled economy needs a dynamic and highly skilled citizenry.
With polling day just four days away a refreshing sense of honesty, albeit of a brutal nature, was delivered this week by two leading economic think tanks.
If the sentiments found on the Conservative Home website are anything to go by, the wider public are set to be disappointed.
