Jon Cruddas welcomed today's Compass report In Place of Cuts, which outlined reforms to the tax system that would redistribute money to 90% of households and raise funds to reduce the deficit without sweeping cuts to frontline services.
The report, entitled In Place of Cuts: Tax reform to build a fairer society and based on a Treasury model simulation, sets out a programme of detailed tax reforms that will:
- Cover the deficit by raising £46.8bn in additional revenues
- Remove the necessity for swinging spending cuts and avoid prolonging the recession
- Redistribute income to 90% of households in Britain
- Reintroduce the 10p tax band to make the tax system fairer
Polling conducted by Compass also shows such measures would be hugely popular:
- 78% of people want the richest 10% pay at least the same percentage of their income in tax as the poorest 10%
- 59% of those surveyed would like to see the re-introduction of the 10p tax band - with only 13% opposed
- 62% backed tax reform measures that increase the incomes of 90% of households, with only 24% against
Read the full report and media coverage.