Labour welcomes ‘progressive’ Taxation & Welfare Commission Report
- Commission recommendations align with Party’s call for a renewed focus on taxes on wealth
Responding to the publication of the Commission on Taxation and Welfare’s report, Labour Finance Spokesperson Ged Nash said:
“The Tax and Welfare Commission report is an honest, independent assessment of how our taxation and welfare system needs to be reorientated and broadened to meet the needs of citizens today and into the future, and to meet our ambitions for a fairer, more decent society and economy.
“The recommendations by and large align with Labour’s submission to the Commission. Most wealth is held in assets and as the Commission has noted, we now need to shift the balance of taxation away from taxes on labour and towards taxes on capital and wealth.
“While we have a progressive income tax system, the same cannot be said for the overall taxation system in the round.
“The report makes it clear that those who have the most in terms of assets and capital must contribute more. This is the trend internationally and the report published today very much lies in that approach.
“It is a very welcome, thoughtful and progressive contribution to the debate on the direction of our tax and welfare system and I would urge the government to take the over 100 recommendations seriously.”