Sajid Javid hints higher earners could benefit from tax cuts
Sajid Javid has hinted that higher earners could benefit from changes to the tax system when he delivers his first Budget.
The Chancellor said he was a “low tax guy” and that he wanted to see “simpler” taxes, but suggested the lowest paid would be first in line for any cuts.
In an interview with The Times, Mr Javid also said he was looking at various options regarding changes to stamp duty.
When asked about taxes for higher earners, he told the paper: “Wait and see for the Budget…
“But it wouldn’t be any surprise that I think taxes should be efficient.
Read on...
“We want to set them at a rate where we are trying to maximise revenue, and that doesn’t always mean that you have the highest tax rate possible.
“Generally I want to see lower taxes, but at a level that is going to pay for the public services.”
And he said the Treasury would consider whether to make changes to the fiscal rules ahead of the Budget – but that he had not yet decided whether to hold it before October 31.
“When we have the budget, I will be thinking about whether we need to make any changes to the fiscal rules.
“It is obvious to me that when you’ve got some of the lowest rates on government debt this country has ever seen I wouldn’t be doing my job if I wasn’t thinking seriously about how do we use [that opportunity].”
We know everyone is suffering under the Tories - but the Canary is a vital weapon in our fight back, and we need your support
The Canary Workers’ Co-op knows life is hard. The Tories are waging a class war against us we’re all having to fight. But like trade unions and community organising, truly independent working-class media is a vital weapon in our armoury.
The Canary doesn’t have the budget of the corporate media. In fact, our income is over 1,000 times less than the Guardian’s. What we do have is a radical agenda that disrupts power and amplifies marginalised communities. But we can only do this with our readers’ support.
So please, help us continue to spread messages of resistance and hope. Even the smallest donation would mean the world to us.
-
Show Comments
Leave a Reply
You must be logged in to leave a comment.Join the conversationPlease read our comment moderation policy here.
Taxes to fit public services.
Lower Taxes = Lower public services.
Get ready for more austerity, for our own good though, of course.