20% rate of income tax for all

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20% rate of income tax for all

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A 20% rate would alleviate the oppressive burden of the unreasonable austerity taxes unfairly imposed on all sections of society. Smaller business owners would be free of the strangulating hold high rates have over them and the growth of their companies. Extra money retained via tax cuts could not only be reinvested into the aforementioned organisations, but spent in the wider economy, thus helping to power the economy out of recession through consumerism.

In addition, a 20% rate of tax would appeal to a greater degree of foreign capital seeking financial safety within the EU. This new overseas investment would obviously benefit the economy and eventually trickle down to the wider population.

Finally the proposed reduction in income tax would decrease the number of UK tax exiles fleeing to offshore tax heavens such as Switzerland or Cayman Islands. More money would be retained within the country and no one can dispute the positive effect this would have on the economy.

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