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Re: Scotland's debt mountain
It was in the Times in Sunday that the SNP were thinking of introducing a Local Income Tax on higher earners (no figure was given about where the boundary was).
http://www.thetimes.co.uk/tto/news/u...cle4640309.ece
Quote:
Middle and high income earners should pay more for local services, according to a long-awaited report on local government taxation which will be published today.
The report, by the Commission on Local Tax Reform, will recommend the end of the council tax and the introduction of a new system which takes greater account of wealth and ability to pay.
The report will not endorse one specific system of local taxation. It will instead suggest several alternatives and argue that it is for the political parties to decide which one to recommend to the voters at next year’s election.
According to sources close to the commission, the report will call for an end to the council tax because it does not place a big enough financial burden on those with the ability to pay. It will suggest either a property-based tax or an income-based tax or a combination of the two as its replacement.
Any new property-based tax would be different from the council tax because it would have different bandings — which would lead to higher bills for those in bigger houses.
If a new property tax was introduced, then the current valuations for houses in Scotland would be discarded and a new set of valuations would be done to more accurately reflect rising house prices in property hotspots.
This would have the effect of placing a greater financial burden on those in the most expensive houses.
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