Introduce a flat rate of income tax of 15% and increase the threshold to £15,000

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Introduce a flat rate of income tax of 15% and increase the threshold to £15,000

Petition Details

Exclude single incomes of less than £15,000 from income tax and National Insurance as these people cannot afford to be taxed. In addition, introduce a flat rate of income tax of 15% to ensure middle and high earners get to keep more of their hard earned money.

Additional Information

The current levels of income tax are too high at 20% and 40%, dependent on income. A staggered tax system acts as a disincentive to earn more. If people had more money through reduced taxation, standard of living would increase and VAT to the government would increase as people invest in more luxuries. Welfare cuts as well as significant cuts in foreign aid spending could potentially cover the reduction in tax revenue.

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