Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleTax expert Dan Neidle has proposed 37 options for Andy Burnham to raise the £4.7bn needed to fund the gap in the defence budget. One controversial suggestion is means-testing the state pension, which Neidle estimates could save £1bn annually by blocking the wealthiest 1 per cent from receiving it, though he acknowledges it would be seen as unjust. Burnham has ruled out increasing income tax, VAT, or National Insurance contributions, but has discussed changing business rates for large online retailers. Neidle's top suggestion is to continue fiscal drag by freezing income tax thresholds, which could raise significant funds by including more people in higher tax brackets. Other proposals include raising Capital Gains Tax, introducing an exit tax for wealthy individuals leaving the UK, increasing inheritance tax, and eliminating stamp duty loopholes for commercial property. In fullBurnham told to consider means-testing state pension to fill defence blackholeMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
Andy Burnham given 37 options to fill £4.7bn defence blackhole
Stay up to date with notifications from The IndependentNotifications can be managed in browser preferences.Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleTax expert Dan Neidle has proposed 37 options for Andy Burnham to raise the £4.7bn needed to fund the gap in the defence budget. One controversial suggestion is means-testing the state pension, which Neidle estimates could save £1bn annually by blocking the wealthiest 1 per cent from receiving it, though he acknowledges it would be seen as unjust. Burnham has ruled out increasing income tax, VAT, or National Insurance contributions, but has discussed changing business rates for large online retailers. Neidle's top suggestion is to continue fiscal drag by freezing income tax thresholds, which could raise significant funds by including more people in higher tax brackets. Other proposals include raising Capital Gains Tax, introducing an exit tax for wealthy individuals leaving the UK, increasing inheritance tax, and eliminating stamp duty loopholes for commercial property. In fullBurnham told to consider means-testing state pension to fill defence blackholeMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
