Headlines are chasing one story: Tax. Who pays it and who should pay it? The old saying about nothing is more enduring than death and taxes is being played out in public. It’s quite appropriately so. This is the real meat of political debate. Along with security, it’s probably the most important debate that takes place in parliaments and councils. Without public funds we can’t have the public services that we demand and expect. However, if Governments take too much out of people’s pockets they stifle the creativity and dynamism that drives improvements in life.
Inheritance Tax is generally disliked because it takes a slice out of money passed from one generation to another. In the UK, Inheritance Tax receipts were around £3.8 billion in 2014-15 and have been rising.
The way this tax is levied is a sovereign matter and wholly the responsibility of the politicians in Westminster. Whereas LEAVE campaigners are wrongly arguing that the majority of our laws come from the EU; this is clearly shown to be nonsense. Here we have the most important act a government can take and it has nothing whatsoever to do with Europe.
On the positive side, the EU has been investigating the way in which large multinational corporations shift their money around to avoid National taxes. In fact, the EU offers the best way of calling large international companies, with a wealth bigger than some countries, to account. Its only by looking at the big picture can measures be designed to stop large scale tax avoidance. Another good reason to REMAIN in the EU.
John Vincent 