Local Liberal Democrats have welcomed the moves in the budget to cap the amount of tax breaks the wealthy can use to cut their income tax bills following moves in last year’s budget to cap the level of benefits.
Tax reliefs exist for good reasons, said Coun John Beacroft-Mitchell (Luddenden Foot) to promote activities such as business investment and philanthropy.
“But it is unfair that these reliefs can be used without limit to reduce income tax liabilities.
“The result is that some people with very high incomes in this country managed to play the system and pay incredibly low rates of tax,” he said.
Calder ward Coun Janet said that thanks to the Lib Dems the government is going to cap all of these currently uncapped reliefs. “We want to see millions of ordinary people paying less tax, not millionaires,” she said.