Thursday, 13 September 2018

Giving Everyone a Stake

The party expects these reforms to raise an additional £15 billion per year, though this is likely to grow as the rate of wealth passed down increases in the coming years.
 
Liberal Democrat members will debate and vote on the proposals at the party’s Autumn Conference in Brighton next week. 

Proposals include:

  • Overhauling inheritance tax – taxing recipients progressively on all large gifts received at the same rates as income from employment, above a generous tax-free lifetime allowance, instead of the current system of levying tax on the value of an estate left behind
  • Taxing capital gains and dividends – equalising the tax treatment of wealth and work by taxing capital gains and dividends through the income tax system
  • Reforming pension tax relief – introducing a flat rate of relief on pension contributions, thus rebalancing relief towards lower earners; and limiting the tax-free lump sum the wealthiest can withdraw from their pension pots
  • Lifelong learning and a “Citizens Wealth Fund” – using the revenues from wealth taxation to invest in public services, fund an ambitious programme of lifelong learning to prepare workers for the future economy, and establish an independent Citizens Wealth Fund to invest on behalf of the country

Download the full proposal here.


Follow this link for more info: http://www.libdems.org.uk/everyone-a-stake