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Replace 0 tax rate with 1% tax rate and reduce VAT

Submitted on Wednesday 14th December 2011

Published on Thursday 15th December 2011

Current status: Closed

Closed: Saturday 15th December 2012

Signatures: 1

Tagged with

Economy ~ month ~ Tax

Petition Action

Replace 0 tax rate with 1% tax rate and reduce VAT

Additional Information

There are thousands of people in work currently not paying any tax, if a 1% tax rate was introduced for these people huge ammounts of additional tax revenue could be generated, with very little impact on the new tax payer (someone earning £700 a month would be taxed only £7 about the cost of a packet of cigarettes) with the extra revenue the government could reduce VAT thereby cutting high street prices (including fuel) and injecting growth into Britains economy.

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