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New Look UK Opposition Unveils Tax Plans

by Robert Lee, Tax-News.com, London

30 September 2015


The UK's new Shadow Chancellor, John McDonnell, has pledged that a Labour Government would scrap tax cuts "for the rich" and address "the scourge of tax evasion and avoidance."

McDonnell was appointed to the Shadow Cabinet by the party's new leader, Jeremy Corbyn. In a speech to Labour's annual conference, McDonnell said he would "halt the Conservative tax cuts to the wealthy, paid for by cuts to families' income." He accused the Government of cutting working tax credits "to pay for a multi-billion pound cut in inheritance tax," and alleged that those affected "will have GBP1,300 (USD1,974) taken from them to pay for a tax cut to the wealthiest four percent of the population."

McDonnell also announced that a Labour administration would "force people like Starbucks, Vodafone, Amazon, and Google and all the others to pay their fair share of taxes."

In the meantime, the party will launch a review of the operation and resourcing of HM Revenue and Customs (HMRC). The aim will be to ensure that the Department "is capable of addressing tax evasion and avoidance and modernizing our tax collection system."

TAGS: inheritance tax | tax | tax avoidance | corporation tax | United Kingdom | tax credits | tax rates | HM Revenue and Customs (HMRC) | tax reform | HM Revenue and Customs (HMRC) | Tax | Tax Evasion

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