Think-tank calls for rebalanced tax system

Centre-right think-tank Bright Blue has urged Chancellor Rishi Sunak to limit the impact of April’s £12bn increase in National Insurance contributions, calling for higher taxes on capital and inheritance. The report says the health and social care levy “cannot be abolished, but it can be made much fairer,” suggesting: “Any detrimental impact on workers and employers can be mitigated.” The study suggests: Broadening the levy to apply to pensioner and rental income; ending an exemption from paying NI for those working on beyond the state pension age; narrowing a gap between the headline rate of capital gains tax and income tax; and replacing inheritance tax with a lifetime receipts tax.

 

 

The Guardian

 

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