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Fair taxes - a message from Vince

October 16, 2012 10:36 AM
By Vince Cable

Our system of taxation is both unfair and inefficient. People on modest incomes are paying their fair share of tax while the rich can easily avoid paying their share.

It is a particular scandal that some of the world's wealthiest people who own property in the UK worth millions pay virtually the same council tax as owners of a modest family home.

I want to change this - I want a new 'mansion tax' on the most valuable properties - we propose 1% of the value of over £2million. This will be paid by the wealthiest 0.16% of property owners.

If you agree, add your name to our campaign now.

Unlike taxes on income, it is impossible to dodge a mansion tax. After all, a mansion can't be hidden offshore.

There is plenty of opposition from top investment bankers who would have to pay more tax. And the Tories don't like it either; it will hit some of their friends.

Polls show that this idea is very popular. The public want fairer taxes, as we do.

Add your name to the campaign now to help build support for fairer taxes.

Thank you,

Vince Cable MP

PS. Those who benefit from the current system are not short of help or money. That's why we need you to back the campaign today.