Clegg To Call On Osborne To Tax The Rich More In 2012 Budget

Clegg Osborne Tax Wealthy

PA/The Huffington Post   First Posted: 11/03/2012 07:11 Updated: 11/03/2012 07:11

George Osborne "must" make the wealthiest pay more to help fund tax cuts for the less well off in next week's budget, Nick Clegg will tell his party's faithful on Sunday.

In his keynote speech to Liberal Democrats at the party's spring conference in Gateshead, the Deputy Prime
Minister will publicly call on the Chancellor to include "concrete" measures supporting lower earners.

The move, which aides described as "raising the stakes", comes ahead of a crunch Coalition budget meeting on Monday.

Mr Clegg will say the Lib Dems have secured major concessions on tax for poorer households but admit there is "still more to be done".

"That is why the Budget in ten days time must offer concrete help to hard-pressed, hard-working families," he will add.

"A big increase in the income tax threshold, further and faster towards £10,000. Help we promised, help we are delivering, in Government, today.

"I want the budget to show how we are anchoring this Government in the centre ground. Credible - but fair.

"The last Labour budgets led our nation to the economic precipice - fantasy budgets issued by a party in denial, out of ideas and abdicating responsibility.

"This month's budget will show the determination of both parties in government, to repair the public finances, keep our economy safe and help working families.

"This year's Coalition Budget must cut the taxes of ordinary working families by asking more of wealthiest.

"The wealthy paying more so that ordinary workers pay less, a budget for fairness."

The Lib Dems have floated a number of ideas for hitting the wealthiest, including proposals this weekend for a so-called "tycoon tax".

Party sources insisted it was "in the budget mix" but conceded much of the detail of how that would work in practice was yet to be thrashed out.

It could include looking at the overall income of the wealthiest, including payouts from things like dividends and trust funds, then setting a minimum level of tax payable on the total.

Proposals for a "mansion tax" are unlikely to get past the Conservatives, who are strongly opposed to the plans.

But the March 21 budget must tackle tax avoidance, Mr Clegg will tell activists.

"Too often, rather than paying their dues to the nation the wealthy pay their accountants to get them out of it.

"Avoiding tax, minimising the amount they have to contribute - that's the name of their game, boasting about the latest wheeze for moving an asset here, a property there, a loophole everywhere, all to make the tax bill lower.

"Let me tell you, few things make me angrier as ordinary families struggle to make ends meet, as young people struggle to get on the housing ladder, as the unemployed struggle to find work, the sight of the wealthiest scheming to keep their tax bill down to the bare minimum is frankly disgraceful, multimillionaires avoiding tax by moving their money around.

"So, we will call time on the tycoon tax dodgers and make sure everyone pays a fair level of tax."

Mr Clegg's speech will not contain major new policy announcements but is instead expected to focus on "positioning" the party as well as setting out its achievements in coalition.

He will make a robust defence of controversial reforms to welfare to show the Government is completely unified on the issue, even if it may be for different reasons.

The Lib Dem leader will say benefit claimants "owe it to the nation" to "strain every sinew to find a job".

"That's why I am such a strong supporter of the basic idea driving the Coalition's welfare reforms," he will add.

FOLLOW HUFFPOST UK POLITICS

George Osborne "must" make the wealthiest pay more to help fund tax cuts for the less well off in next week's budget, Nick Clegg will tell his party's faithful on Sunday. In his keynote speech to L...
George Osborne "must" make the wealthiest pay more to help fund tax cuts for the less well off in next week's budget, Nick Clegg will tell his party's faithful on Sunday. In his keynote speech to L...
 
 
  • Comments
  • 110
  • Pending Comments
  • 0
  • View FAQ
Post Comment Preview Comment
To reply to a Comment: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to.
View All
Favorites
Recency  | 
Popularity
Page: 1 2  Next ›  Last »  (2 total)
photo
HUFFPOST SUPER USER
danrothesq
Unrestricted brilliance.
07:06 PM on 03/12/2012
Make the rich pay more. Take all their money and give it to me.
04:17 PM on 03/12/2012
Taxation laws lay at the root of the problem they have become so complicated even the revenue doesn’t know how it works, instead of the politicians taking long holidays they should short the system. Start by throwing out all the old rules then writing every tax point in clear language making any if’s but’s or maybe’s a direct attempt to defraud the public purse. Using the national average wage and the base forty hour week as a starting point (pro rata for part time) making over time that is paid at the standard rate of time and a half tax free for the first ten hours, then half rate thereafter. Starting at the national average the tax take will be twenty per cent after the first fifteen thousand excluding overtime then increase by a quarter per cent every thousand over the average up to fifty thousand. Thereafter a similar gradient that will take the tax to a total forty percent for those earning one hundred thousand and similar to fifty five per cent for those up to two hundred thousand. Bonuses tax free for one million then taxed at one hundred and ten percent thereafter, all those working in this country will pay the UK rate regardless of where earning are paid. Earning will mean financial gain actual or perceived; those working in this country will be deemed as living in this country. Companies moving their HQ abroad will be taxed at twenty per cent of value on moving.
04:02 PM on 03/12/2012
This will make no difference at all, It is only a smoke screen to drop the 50% rate of tax for the rich, they wiil drop it back to 40% and then as we all know nothing will be done about getting any more tax off them, why ? because they are all peeing in the same pot, yes folks the old saying is so very true, the rich get richer and the poor get poorer, and if anybody on here actually thinks our MPs care about the poor and not so well off are very naive and very foolish !
photo
HUFFPOST SUPER USER
danrothesq
Unrestricted brilliance.
07:07 PM on 03/12/2012
Why waste your time thinking about the poor. They do not do anything, they are just work for everyone else. Send them all to Wales.
03:27 PM on 03/12/2012
he is trying to make out like he gives a dam about the poor he will say anything now to try save his political career
03:19 PM on 03/12/2012
I dont think tax is the issue.

How did the political buffoons do it?
Britains inward investment standing drops from 2nd place to 27 place.
Britain drops behind Brazil in the economic league
25% of people in work only work part time.
Machine tool investment barometer shows investment in machine tools in Britiain is lower than Austria, Switzerland , Mexico ,Turkey.
We are 18th in the league and invest one 10th what the Germans invest. Many countries with populations a fraction of the size of ours invest more than we do.
Germany spends 47pc more on research and development than the UK. In 2010, there were 47,000 patent applications made in Germany compared with 15,500 in the UK (most of which came from one company – Rolls-Royce). Germany invested $5bn in machine tools, the kit of a vibrant manufacturing sector, the UK $400m.
Britain’s political buffoons more interested in playing politicsthan getting to grips with Britain’s real economy.

This begs the question Can Britain be fixed
High tax & regulation Government & Bureaucrats.
Anti-business ,anti-profit & anti rich, Unions and left wing leaning media.
Unfortunately the Unions and labour party in Britain are to blame for anti-business, profit rhetoric.
Britain has Confrontational unionism and politics resisting change to businesses and industry so these rarely survive.
Germany has co-operative politics and unionism which helps industry and businesses survive, be successful and embracing change,.

Britain has been held back by confrontational unionism & politics of envy
09:18 PM on 03/12/2012
No, Britain has been held back by confrontational Politicians who beat industry to a pulp and sold off anything this country had worth keeping, Unions merely fought for workers rights and decent wages both of which have been dispensed with in the private sector and now work has begun on the public sector, but only the working class of the public sector is meant to suffer. Your other points regarding government investment in industry is spot on, anything worth applying for patent in this country is soon stolen from the inventer whose then left to languish in poverty while chinless wonders who can afford to invest make billions from the ideas, I'm for no party in this country, I'm also a member of no unions, but, I tell it like it is, the truth and not the Tory version of that truth, fair society, tell me, why are people in this country being helped by charities to feed and clothe their kids while others are sat now in central France on spring skiing vacations, I'll tell you, some people have no chance in this country, regardless whose holding the reins.
09:26 AM on 03/13/2012
Absolute nonsense!! We are all what we make ourselves. You are not silly enuf to think that having money is what makes us. I'll take it further if money is that important we are damned. If someone has to live in a multi million pound house to make him someone god help him.

The measure of a man is his mind, we all have a chance, it is whether we use it!!
03:07 PM on 03/12/2012
So all these rich people just wait around while their taxes go through the roof. Get real, Cleggy, the tax system needs reform and simplification so that it is not worthwhile to employ clever accountants and lawyers to find loopholes. Perhaps a flat tax of 15% on all income over say £10,000?
02:29 PM on 03/12/2012
What's wrong with flat tax? The more you ern the more you pay. The current system of the more you earn the greater the rate you pay is not social justice its the politics of envy alive is and its well in the Libral party.

The middle class top rate of tax for the self employed is 59%. For the super rich in nil. For the Dole cheats its nil. The squeezed middle pay for everything for everyone.
09:35 PM on 03/12/2012
The dole queue wouldnt be so long if not for our politicians, its those who sold off our publicly owned profitable business to their chums, they also made three whole workforces redundant and now pay more for the same produce from abroad, if they'd invested in this country it would be profitable again but they refuse and buy in the European version, we were all sold out for the financial sector which hops around more than your average kangaroo and we all end up paying for their pleasures.
01:30 PM on 03/12/2012
Heres an idea stop giving billions to dole cheats - hey presto situation sorted. That would be fair wouldnt it?
HUFFPOST SUPER USER
janno000
01:59 PM on 03/12/2012
tax cheats cost the country more.
photo
HUFFPOST SUPER USER
danrothesq
Unrestricted brilliance.
07:08 PM on 03/12/2012
We want more handouts
This user has chosen to opt out of the Badges program
01:24 PM on 03/12/2012
Unfortunately this is a non-story. "Clegg To Call On Osborne To Tax The Rich More In 2012 Budget", he can say anything he likes but do you think the party he supports in power will listen to him? I think not. (Mind you, I expect it to go down well with his party faithful at the conference!)
12:53 PM on 03/12/2012
No need for additional taxation. Collecting the correct level of tax from Rich individuals and companies would put around £50 billion in the pot!
Jail for tax "avoiders" and the crooks who advise them would be a good start!
01:14 PM on 03/12/2012
Nice idea but how to you decide who is a tax 'avoider'?
Do you want to jail all those with a band A car and pay no road tax? All those with an ISA? Maybe the low paid who don't earn enough to pay tax?
All tax avoiders in my book.
HUFFPOST SUPER USER
janno000
02:01 PM on 03/12/2012
then I suggest you start reading a different book, when you have finished 'Spot the dog goes to school'.
12:41 PM on 03/12/2012
Traitor Clegg trying to appeal to Labour voters.!!
HUFFPOST SUPER USER
janno000
02:02 PM on 03/12/2012
I don't think Glegg is appealing to anyone, he is finished.
02:37 PM on 03/12/2012
The Joys of a coalition , with the tail wagging the dog. Bring on the next election.
12:37 PM on 03/12/2012
Osbourne is going tax the rich so that they pay their fair share. Oops look there goes that squadron of low flying pigs again.
photo
HUFFPOST SUPER USER
danrothesq
Unrestricted brilliance.
07:09 PM on 03/12/2012
Raise the dole. Double it. Give me more free money.
HUFFPOST SUPER USER
janno000
12:23 PM on 03/12/2012
how about the govt 'straining every sinew' to create an economy where there are jobs, Instead they provide big business with free labour and cut the jobs of those employed.
photo
HUFFPOST SUPER USER
danrothesq
Unrestricted brilliance.
07:09 PM on 03/12/2012
The poor dont want jobs. That is just a smokescreen. They want more dole.
10:54 AM on 03/12/2012
Dont be fooled by this mans words, they all look after one group of people and thats their own and their paymasters.
10:50 AM on 03/12/2012
Clegg like the Labour government wants an open door immigration policy which is crippling our benefit and housing costs. European migrants have lowered our standard of living and created insecure jobs through agencies (middle men). We have no democracy in Britain, our votes are worthless as all the parties are the same. Britain is now a failed land destroyed by our own parliament of useless politicians. Businesses are self destructing by employing migrant workers who send money out of our economy. The only ones to gain as we know are the greedy rich at the top. They over-populate this land and then say go green because we are destroying the planet, due to rising world population.