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Ukip sets out tax strategy

The UK Independence Party has set out its taxation plans ahead of the next election which would see the top rate of tax scrapped and low earners taken out of income tax.

In an interview with Prospect magazine, Ukip policy head Tim Aker discussed the party’s “blue collar” strategy which will be part of its election manifesto.

He said: “We want to take low earners out of income tax altogether. No tax on the minimum wage.”

Aker said Ukip will pledge to increase to £45,000 the point at which the 40p rate of income tax is incurred, in order to “stop George Osborne’s fiscal drag for middle earners.”

He said the top rate of tax of 45p should be abolished, adding: “We are for flatter, simpler, and lower taxes.”

Ukip supports the cap on benefits, and is against the so-called bedroom tax. On public sector pensions, Aker said he started looking into it, then “got very scared and ran away”. Ukip is not proposing an increase in the retirement age.

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Comments

There are 8 comments at the moment, we would love to hear your opinion too.

  1. Such aspirations are all very well, but lower taxes can only mean less money flowing to the central exchequer which, in turn, has to mean cuts to government spending or a ballooning deficit, of which we already have one that’s almost unmanageably vast. How does UKIP plan to balance the books other than by imposing savage economies across a range of public sector organisations? I’d like to see it happen, though I don’t see how it possibly can.

  2. Ms Stevens, what on earth are you talking about? Your logic is not only flawed by lacking in even the most rudimentary knowledge gleaned from empirical data.
    I suggest that you do some research on tax receipts by Western Governments in the 20th Century, you will realise the idiocy of your comments.

  3. By not paying £50 million pounds a day to the corrupt EU , and cutting the overseas aid bill to countries that have space programmes etc . More common sense from Mr Farage and co .

  4. Never ceases to amaze me the way the press waste time reporting on a fringe party with limited support. Had it not been for press coverage of Mr Farage’s one man show they’d barely have featured in the European elections and as it was they registered less progress than the Green’s in the locals. I don’t see anyone wasting column inches on Green party policy so why are we forced to listen to UKIP’s equally ill conceived and poorly thought out policies? They’re never going to get into power any time soon so it’s all just bluff and bluster.

  5. Robert – UKIP are not fringe. Even the electoral commission acknowledge that. They poll about 11-12% of votes but our first past the post system keeps them at bay. I live in the NW of the UK and in discussion with friends and family I was shocked how many people voted UKIP – from all social spectrums and backgrounds. The main parties ignore their appeal at their peril.

    Frankly I dont agree with all they stand for but equally I do understand why people who are disconnected from the main parties find them acceptable and appealing. If it shakes up westminster then they have done their job as too many of voters are disconnected from Westminster and our country appears to be run by mandarins, committees and minority pressure groups. Hardly democracy in action.

  6. On a positive about this issue I find the simplification attractive and all parties should move towards this. I have too many clients who ‘keep’ themselves basic rate taxpayers (by leaving money in business accounts) and only employ part time employees to keep employers NI out of the equation. One client employs 70 part time staff, maximises her pension funding each year, draws just under the HRT threshold and when she has earned enough buggers off on holiday – about 12-15 times a year.

    When I asked her why she chose this lifestyle (like it wasn’t obvious!) her answer was ‘why give it to politians who waste it on stuff no sane person would spend money on?’

    How many businesses are out there like that, as we have quite a few and I am one RI IFA?

    Our tax system is called progressive but I find it regressive in the modern world and certainly outdated.

  7. Another hung parliament’s about their only real opportunity but with whom? Labour wants in to the EU as does Lib Dem’s and I think the Tories are dithering on an explicit position.

    SNP might be a possibility mmmm!

  8. Few new posters today…Any comments about financial services lads (see title of journal) or are you just the usual political pawns that appear whenever an article about politics goes to press…Google search yawns!

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