Led by Nick, the Liberal Democrats in Coalition Government have ensured that the tax system is changing to make it fairer.
Liberal Democrats have cut tax for millions of working families, making sure they get a fair deal. We have already cut taxes by £550 every year for low- and middle-earners and taken 2 million people out of paying income tax altogether. In the long term we will make sure you only pay tax once you earn more than the Minimum Wage.
Liberal Democrats have put a tax on private jets, increased Capital Gains Tax for higher rate taxpayers and blocked inheritance tax breaks, making sure the super rich pay their fair share.
We are taking the lead in cracking down on tax avoidance and clawing back money from those who hide their money from the tax man. Under Labour, the richest people could treat tax as optional,employing armies of accountants to exploit the loopholes in the tax system. We are closing loopholes and catching tax dodgers, which will bring £7 billion extra per year by 2015.