http://www.telegraph.co.uk/finance/financetopics/financialcrisis/6763411/Baroness-Vadera-I-still-have-nightmares-about-the-financial-crisis.html

So says Baroness Vadera – now Advisor to the G20 Presidency – and somebody who turned a blind eye to your warnings on the UK eceonomy, Fred – what do you say to her now?

I, for one, would like to know!

Tony

Expect more of the rich to become non-doms after such a move.

With the cost of benefits set to exceed the revenue brought in by income tax, the rich better have deep pockets.

Why not a land Tax with single flat rate income tax at 40% with £15,000 personal tax allowance (below £15k is the defined as low pay)then abolish employees NI and employers NI and remove most of population from the various Income Taxes. Employers NI is just a hidden income tax on the poor, reducing the wages they would otherwise receive or reducing their employment prospects by exporting their jobs to India/China. The only good idea above is sync the Capital gains rate with income tax. There should be No loop holds any more. There is no point in having a tax system that is complex and has so many loop holes, it only benefits the rich and UK Tax Havens like Guernsey, Virgin islands etc. Get ride of all quangos and gravy train spending. People would not need anywhere near as much benefit payments as the government would not of take it away in the first place to only give back to them. And how come people on low pay, pay tax on the interest of the little savings they managed to accumulate, its outrageous!

THE RICH WILL ALWAYS BENEFIT FROM COMPLEX TAX SYSTEM WITH A SO CALLED BROAD TAX BASE, AS THEY WILL SUBVERT IT AT EVERY TURN, AS THEY ALWAYS HAVE.

http://www.bloomberg.com/apps/news?pid=20601102&sid=aWnrmjAHt5wM

Tony