Tories propose 'responsible' taxation reforms

Date: 31st October 2008

The shadow chancellor George Osborne has proposed taxation reforms to set the UK on the "responsible road to recovery".

In a speech at the London School of Economics, Mr Osborne suggested a council tax freeze, a business start-up VAT deference scheme and a cut in payroll taxation for the smallest firms.

He also claimed that the Conservatives would establish a credible infrastructure to bring public finances under control, should his party win the general election.

Mr Osborne stated: "We don't just want Britain to survive the recession … We want to build a new, better economy. We need economic change."

He added that the Conservatives' policy was based on fiscal responsibility and would prepare the UK for prosperity in the years ahead.

Gordon Brown's "irresponsible borrowing" would lead to higher taxation, the shadow chancellor concluded.

In other news, business start-ups have until the end next Tuesday (November 4th) to hand-deliver a self-assessment tax return to their local HM Revenue and Customs office. An accountant can provide help and advice with the necessary paperwork.