£100 Billion Lost to Tax ‘Flaws and Holes’

According to the recent publication The Great Tax Parachute: How to save the public finances and keep the economy afloat by the Green New Deal Group, more than £100 billion a year is lost because of abuse of loopholes in the tax system, tax bills remaining unpaid and from illegal non-payment of tax.

This £100 billion is not about new taxes, simply collecting taxes that are due, closing loopholes in the tax system and clamping down on illegal non-payment of taxes so why were we told by the Conservatives, Labour and Liberal Democrats that deep spending cuts are inevitable?

The Green New Deal Group also show there is an enormous range of additional taxes available that would make the UK’s tax system fairer and that those with the greatest capacity to pay tax could carry more of the burden of addressing the economic crisis whilst the taxes of those who simply cannot afford to pay more could be eased.

Caroline Lucas, Green Party Leader and MP for Brighton Pavilion

Caroline Lucas, Green Party Leader and MP for Brighton Pavilion

Caroline Lucas, the Green Party leader and MP for Brighton Pavilion, is one of the members of the Green New Deal Group so it is no surprise we Greens disagree with the Conservatives-Liberal Democrats coalition’s (and Labour’s) approach to the economic problem.

The Green New Deal, which the Green Party supports, is about setting the economy, nationally and globally, on a path to live within its environmental means and is based on these core principles:

  1. An environmental transformation of the economy to tackle the triple crunch of the financial crisis, climate change and insecure energy supplies;
  2. jobs, more jobs and secure jobs;
  3. investment now to tackle the recession and an investment for the future;
  4. new checks, balances and directions for a banking system that has become unfit for purpose;
  5. greater security for our pensions and savings;
  6. warm homes in winter, protecting us from high and volatile energy prices and ending fuel poverty; and
  7. the UK showing real world leadership.

David M. Davison

One Comment to “£100 Billion Lost to Tax ‘Flaws and Holes’”

  1. its the truth that needs to be told, why is the Barely United new government set on planning cuts to public services and at the same time letting cash haemorrhage through these open sores in the tax system

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