Tax Cuts “Impossible” says Prime Minister
As the government presses ahead with its deficit reduction strategy, Prime Minister David Cameron has ruled out significant tax cuts.
He said that he wanted to offer people relief but said it would only be possible “at the end of the hard road.”
He also stated that the coalition government had no “plan B” on the deficit reduction strategy and said that tax cuts would undo the painful cuts in public spending.
He said: “I would love to see tax reductions. I’m a tax-cutting Tory and I believe in tax cuts, but when you’re borrowing 11% of your GDP, it’s not possible to make significant net tax cuts. It just isn’t,” he said. “It’s no good saying we’re going to deal with the deficit by cutting spending, but then we’re going to make things worse again by cutting taxes. I’m afraid it doesn’t add up.”
Meanwhile Chancellor George Osborne is reportedly considering a tax levy on non domiciles which could help fund the commitment to raise the tax free threshold to £10,000.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
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Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
