Adam announces new commission to help “Coping Class”
Adam Price has announced the launch of a new Fairness Commission. This commission will look at how the tax system can be changed to help the middle and working classes who are struggling to cope with a decline in their disposable income. The Commission will consider a wide range of measures including:
• Ending Capital Gains Tax avoidance by private equity firms
• Lifetime personal gifts over £2m taxable but incentives for charitable giving.
• Radically revising tax relief to higher rate taxpayers on pension contributions.
• Creating a Living Wage for All allowing the minimum wage to rise faster
• Increasing income tax on higher earners earning over £100,000 and £500,000
Adam commented
“Every week I speak to people in my constituency who are struggling to meet their weekly bills. Often these are people in highly skilled jobs who are finding the increasing cost of fuel, council tax and house prices. At the same time we see huge incomes in the city of London with people earning millions a year. This commission will look at how we can make our system fairer not just for the poor but also for the middle and working classes who are struggling to cope.”
Adam Price added:
“Over the last couple of years it has become clear that the question of redistributing wealth has fundamentally shifted. It used to be argued in terms of middle class wealth being redistributed to the working class, but now middle class people are increasing finding it hard to make ends meet themselves.
“A sense of fairness is engrained in us as human beings as a basic organising principle of society. People who work hard deserve to be rewarded, but the super-rich earn so much that the average person finds it difficult to believe that they work 1,000 times as hard as they do.”