Menu
13/09/2012
Former Defence Secretary Liam Fox Calls For Radical Tax Cuts
The government should cut taxes in an effort to stimulate economic growth, former Defence Secretary Liam Fox has said.
Fox used an interview in the Time newspaper to call for capital gains tax to be suspended for three years.
He also added that employment laws should be reformed, making it easier to hire and fire employees.
And while he wants to see a change in economic policy, he said there was not a need for the Conservatives to change their leader.
Mr Fox resigned as defence secretary in October last year after questions were asked about his working relationship with his friend and self-styled adviser Adam Werritty.
Earlier this week Mr Fox helped to launch a new group, Conservative Voice, which aims to put forward "seriously ambitious" policies on tax, Europe, public services and political reform, as well as beefing up the Tories' campaigning skills.
Suspending capital gains tax - a levy on the profits from asset sales - for three years, is a radical idea he says would "ricochet around the world" - and signal that Britain was open for business.
(H)
Fox used an interview in the Time newspaper to call for capital gains tax to be suspended for three years.
He also added that employment laws should be reformed, making it easier to hire and fire employees.
And while he wants to see a change in economic policy, he said there was not a need for the Conservatives to change their leader.
Mr Fox resigned as defence secretary in October last year after questions were asked about his working relationship with his friend and self-styled adviser Adam Werritty.
Earlier this week Mr Fox helped to launch a new group, Conservative Voice, which aims to put forward "seriously ambitious" policies on tax, Europe, public services and political reform, as well as beefing up the Tories' campaigning skills.
Suspending capital gains tax - a levy on the profits from asset sales - for three years, is a radical idea he says would "ricochet around the world" - and signal that Britain was open for business.
(H)
Related UK National News Stories
Click here for the latest headlines.
30 November 2010
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
Corporation Tax Reform To Create 'Competition'
The Government has published details of its Corporate Tax Reform programme consisting of a series of essential reforms designed to improve the UK's tax competitiveness. Measures include the introduction of new Controlled Foreign Company (CFC) rules and a commitment to introduce a Patent Box.
14 October 2011
Fox Pressurised Over Undeclared US Dinner
The week of increasingly difficult disclosures about the Defence Secretary and his associate continues as new revelations about an undeclared dinner bash in the US emerge on Friday.
Fox Pressurised Over Undeclared US Dinner
The week of increasingly difficult disclosures about the Defence Secretary and his associate continues as new revelations about an undeclared dinner bash in the US emerge on Friday.
06 April 2011
Government Tackle Tax Avoidance
David Gauke, Exchequer Secretary to the Treasury, has today announced a change in legislation to prevent tax avoidance. The measure will prevent individuals from taking advantage of a tax loophole that would have emerged today had the Government not taken action.
Government Tackle Tax Avoidance
David Gauke, Exchequer Secretary to the Treasury, has today announced a change in legislation to prevent tax avoidance. The measure will prevent individuals from taking advantage of a tax loophole that would have emerged today had the Government not taken action.
31 March 2005
Lib Dems pledge to scrap 'unfair' council tax
The Liberal Democrats have vowed to scrap the "unfair" council tax, on the 15th anniversary of the poll tax riots. The party said that the council tax should be replaced with a local income tax, based on the ability to pay.
Lib Dems pledge to scrap 'unfair' council tax
The Liberal Democrats have vowed to scrap the "unfair" council tax, on the 15th anniversary of the poll tax riots. The party said that the council tax should be replaced with a local income tax, based on the ability to pay.
30 May 2014
More Fall Into Debt Following HMRC Overpayments
The number of issues reported to Citizens Advice of people falling into debt as a result of repaying overpaid tax credits increased by 14 per cent in the 2013/14 tax year. Tax Credit debts arise when HMRC over-estimates a person’s entitlement to financial support and ends up having to recoup overpayments.
More Fall Into Debt Following HMRC Overpayments
The number of issues reported to Citizens Advice of people falling into debt as a result of repaying overpaid tax credits increased by 14 per cent in the 2013/14 tax year. Tax Credit debts arise when HMRC over-estimates a person’s entitlement to financial support and ends up having to recoup overpayments.
-
Northern Ireland WeatherToday:A few fog patches at first, soon clearing to leave a dry day with some patchy cloud and good sunny spells. Light and variable winds. Feeling mild in sunny spells. Maximum temperature 14 °C.Tonight:Dry and quite chilly overnight under prolonged clear spells and light winds. This will allow a few fog patches to develop in places. Minimum temperature 2 °C.
