Ms Harman was disarmingly honest when she recently told a radio interviewer that she thinks people on middle incomes should contribute more through their taxes. So today I am looking at Labour’s various suggestions of who might pay more tax and how, inviting comment on these potential policies.
There is the Death tax, a levy on people’s estates to pay for care when elderly, which would be a surcharge on top of Inheritance Tax.
There is the homes Tax – or mansion tax – as an additional levy on dearer priced properties.
There is the idea of a higher rate of Corporation Tax on business.
There is the possibility of a Graduate Tax.
A rise in National Insurance (a tax on jobs).
A resumption of Labour rises in Fuel Duty.
A new tax on farms.
These taxes all represent ways of hitting those in the middle of the income scale as well as at the top. They are taxes on aspiration and hard work, taxes on achievement and prudence. Taxing business and employment more could get in the way of the jobs recovery we are now experiencing.