In the House of Commons yesterday, Jo Swinson MP pressed the government to crack down on tax avoidance to make sure the wealthiest pay their fare share toward tackling the deficit.
Answering a question from Jo Swinson on tax avoidance, the Treasury minister, David Gauke, revealed that changes to the tax system introduced under Labour resulted in £1 billion per year in tax avoidance. Jo urged the Government to do more to tackle these tax loopholes.
Commenting, Jo Swinson said:
“When they lowered capital gains tax, Labour created an enormous tax loophole which benefited mostly the richest people in society. That is why the Liberal Democrats pledged to introduce changes to capital gains tax and I am delighted that this has now been achieved. At a time when we are all having to face tough choices, it is especially important that the wealthiest in our society pay their fair share.”
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