Proceeding contribution from Chris Huhne (Liberal Democrat) in the House of Commons on Thursday, 24 June 2010. It occurred during Budget debate on Budget debate.
Capital Gains Tax (Rates)
If VAT is raised right across without the exemptions that we have for food, children's clothes and books, for example, and without the lower rate on fuel, then it is a regressive tax. It is a standard feature of basic micro-economics that indirect taxes are more regressive than direct taxes, but I ask that Members please look at the IFS analysis, because it seems to me to undermine directly the case that the Opposition are attempting to make.
Secondary information
- Type
- Proceeding contribution
- Reference
- 512 c447
- Session
- 2010-12
- Chamber / Committee
- House of Commons chamber
- Subjects
- Bank services Climate change Capital investment Housing Environment protection Government assistance Economic situation Economic growth Forecasts National income Public expenditure Pollution control Public sector debt Standards Taxation VAT Institute for Fiscal Studies Office for Budget Responsibility Bank levy Sheffield Forgemasters Budget June 2010
- Link
- View this Proceeding contribution on www.publications.parliament.uk
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- 2023-12-15 17:04:56 +0000
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