Wealthy have "Moral Responsibility" to pay more tax - Campbell
Sir Menzies Campbell has said that he sees it as a "moral responsibility" to make the wealthy pay more in tax in spite of his plan to drop the Liberal Democrats' commitment to a new 50p top rate of income tax. In an interview with the Financial Times, the Lib Dem leader said the proposals to be put to next week's conference made up a firmly redistributive programme of tax cuts for the low paid and increases for the rich. But instead of a new higher rate of income tax, Sir Menzies wants to raise an extra £10bn from the wealthy by raising capital gains tax and cutting some tax relief. The proposals have been described as 'the most progressive policies proposed by any party in recent history'. [FT - Campbell interview]