Liberal deputy Prime Minister supports new Tycoon Tax proposal
Liberal Democrat leader and Deputy Prime Minister Nick Clegg has aired his support for the tycoon tax proposal, which would bring in a minimum taxation rate to ensure that all citizens pay their ‘fair share’.
Speaking before his party’s annual conference and before the budget was announced, Clegg claimed that the current system of allowing individuals to pay lower taxes might be legal, he also suggested it was wrong. Using US presidential candidate Mitt Romney as an example, claiming that he pays just 13% tax, Clegg stated that an investigation in the UK to see if similar things are happening here was necessary.
Clegg also pointed out that in the UK, that are currently hundreds of people earning millions every year, who barely pay 20%, 30% or 40%. Outlining his disgust, the deputy Prime Minister claims that the only way forward is to enforce the new tycoon tax to ensure that everybody pays a fair share of taxes each year.