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TAX PLANS MOST RE-DISTRIBUTIVE IN 50 YEARS
September 20, 2006 12:00 AM
Speaking in today's debate on taxation at the Liberal Democrat Party Conference in Brighton, Paul Holmes, MP for Chesterfield, said:
"The Liberal Democrat Tax Commission proposals will raise £10 billion from the wealthiest, more than two times as much as our proposals last year.
In the past I was a strong supporter of the 50p tax rate on high earners but this policy is out-of-date. Our new proposals are more redistributive. Last year's 50p tax rate would have raised £4.7 billion from the wealthiest but our new proposals will raise £10 billion. Two million of the lowest earners will be taken out of tax altogether and 90% of tax payers will benefit.
"I believe that this package is the most radical, green and redistributive tax proposal in the last 50 years and I urge all members of the party to support the proposals unamended."
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