Slash taxes to level up, Chancellor warned
On January 19th, Onward published Levelling Up the Tax System, a new report which argues that many taxes are regionally regressive and discusses how the tax system could instead be used to spread opportunity and growth to less prosperous places
As a paper by Onward think tank set out, cutting council tax rates in the lowest band and raising it for the highest would give poorer households, with a higher propensity to consume, more spending power. Rich households can absorb higher council rates.
The report considers which tax changes might have the biggest impact on helping people in the most deprived parts of the country as we recover from a global pandemic.
MP for North Devon, Selaine Saxby, considers the impact of different taxes on the South West using Onward's modelling in 'Levelling Up the Tax System'.
Council tax should be a key target for reform, according to the think tank Onward in research for the Levelling Up Taskforce, which counts 65 'red wall' MP's among its backers.