Close tax loopholes for the wealthiest, says Nancy

Labour's Nancy Platts has made a public call for Government action on personal tax avoidance by the UK's wealthiest people.

Labour's parliamentary candidate in Brighton Pavilion is passionate about reform of the tax system to ensure that everyone is fairly treated. But, she says, as it stands, the richest people in Britain can wriggle out of paying their way.

She signed a joint letter that appeared The Guardian in advance of Budget Day this year. 

A budget to end tax loopholes
The Guardian, Tuesday 14 April 2009

We write to highlight personal tax avoidance by some of the wealthiest in our country, and to urge the chancellor to take action to close in on personal tax avoidance in the budget. Over 15 times as much is lost through tax avoidance at the top than to benefit fraud at the bottom.

If those at the top choose not to pay their fair share, it has grave consequences for everyone. It robs our society of the funds that could end child poverty, or the money needed to increase welfare benefits and help alleviate the conditions which drive the most vulnerable to commit things such as benefit fraud in the first place.

We call on the chancellor to close in on tax avoidance, close in on tax loopholes and deliver greater tax justice. Measures could include: abolishing the domicile rule; abolishing tax havens; taxing investment income equally to income earned through labour; introducing a new wealth tax for all those earning over £250,000; introducing a new tax on bonuses; adopting a general anti-avoidance rule; removing secrecy from all British-controlled tax havens and increasing the number of tax inspectors to allow more thorough investigation.

It is time to close in on tax avoiders, recoup public money and ensure everyone in society pays their fair share - we urge the government to act.

Professor David Byrne, Jon Cruddas MP, Gavin Hayes, Neal Lawson Compass, Sunder Katwala Fabian Society, Professor Ruth Lister, Richard Murphy, Guy Palmer The Poverty Site, Ann Pettifor Advocacy International, Nancy Platts Labour PPC Brighton Pavilion, Howard Reed, Dr Sally Ruane, Clifford Singer The Other TaxPayers' Alliance, Wes Streeting NUS, Chuka Umunna Labour PPC Streatham.