Autumn Statement ‘should target the richest’

19 Nov 12
The chancellor should use the upcoming Autumn Statement to end the council tax freeze for the most valuable properties and introduce two extra bands at the top of the scale, according to the liberal think-tank CentreForum.
By Vivienne Russell | 19 November 2012

The chancellor should use the upcoming Autumn Statement to end the council tax freeze for the most valuable properties and introduce two extra bands at the top of the scale, according to the liberal think-tank CentreForum.

Freedom, fairness and responsibility, a report published today, sets out practical measures to save £17bn that would avoid hitting poorest households the hardest.

The changes to council tax are among the specific tax hikes and welfare cuts that CentreForum claims would bring in extra revenue for the Exchequer. Other suggestions include taxing universal pensioner benefits, increasing capital gains tax rates from 20% to 40%, and capping statutory maternity pay for higher-rate taxpayers.

Adam Corlett, co-author of the paper, said: ‘The government can achieve significant savings without hammering the poor. We urge the government to consider our ideas in the run-up to the Autumn Statement.’

The paper also proposes a number of reforms to promote economic freedom, including liberalising the planning system and improving small businesses’ access to equity funding.

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