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19/10/2006
Tories urge £21bn tax cuts
Around £21 billion tax cuts could be proposed by the shadow Chancellor George Osborne at the next election.
The detailed report, which was accidently published on the party's website a day early, includes a 2p cut in the basic rate of income tax.
Mr Osborne said some recommendations may be adopted, but the official launch of the tax commission's proposals will go ahead.
The proposals in the report, written by Lord Forsyth of Deumlean, include abolishing inheritance tax and replacing it with a type of capital gains tax, scrapping stamp duty on shares, and axing employee tax perks.
Mr Osborne said: "We will not be promising up-front, unfunded tax reductions at the next election. We will, however, rebalance our tax system. Green taxes on pollution will rise to pay for reductions in family taxes. This report sets out some options for doing that."
(CD)
The detailed report, which was accidently published on the party's website a day early, includes a 2p cut in the basic rate of income tax.
Mr Osborne said some recommendations may be adopted, but the official launch of the tax commission's proposals will go ahead.
The proposals in the report, written by Lord Forsyth of Deumlean, include abolishing inheritance tax and replacing it with a type of capital gains tax, scrapping stamp duty on shares, and axing employee tax perks.
Mr Osborne said: "We will not be promising up-front, unfunded tax reductions at the next election. We will, however, rebalance our tax system. Green taxes on pollution will rise to pay for reductions in family taxes. This report sets out some options for doing that."
(CD)
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