diff --git a/economy.md b/economy.md index 21b9631..ecca2ad 100644 --- a/economy.md +++ b/economy.md @@ -20,4 +20,12 @@ Stamp Duty Land Tax (paid on house purchases) should be reformed, with tax band Personal income tax is calculated on income generated prior to expenses being deducted. But in business, corporation tax is calculated on any profit generated after expenses have been deducted from income. It is proposed that a study is conducted into the feasability and fairness of calculating them both in the same way: either personal income tax being revised and only calculated after household costs have been deducted (ie taxing household surplus or amount put into savings rather than income), or corporation tax being calculated on the basis of revenue alone. -Given that there is a current tax gap (between tax due and tax recieved by the exchequer) of [£120 billion](http://www.taxresearch.org.uk/Documents/FAQ1TaxGap.pdf), we propose the introduction of [country-by-country reporting](http://www.taxresearch.org.uk/Documents/CBC.pdf) and a [general anti-avoidance principle](http://www.taxresearch.org.uk/Blog/2012/06/20/why-we-need-a-genuine-general-anti-avoidance-principle-to-beat-tax-abuse-2/), in order to ensure that everyone living or doing business in the UK pays all the tax they owe. \ No newline at end of file +Given that there is a current tax gap (between tax due and tax recieved by the exchequer) of [£120 billion](http://www.taxresearch.org.uk/Documents/FAQ1TaxGap.pdf), we propose the introduction of [country-by-country reporting](http://www.taxresearch.org.uk/Documents/CBC.pdf) and a [general anti-avoidance principle](http://www.taxresearch.org.uk/Blog/2012/06/20/why-we-need-a-genuine-general-anti-avoidance-principle-to-beat-tax-abuse-2/), in order to ensure that everyone living or doing business in the UK pays all the tax they owe. + +## Digital Economy + +We will extend the requirement on basic, affordable telephony to broadband to help ensure homes have sufficient access to the internet and to keep pace with the connected digital economy. + +Enshrine net neutrality in law, protecting the fundamental principle of the free and open web. + +Any data or research that is government funded will be required to be released under the Open Government License, ensuring that public funding equals public ownership. There will be an exception for government loans and innovation investment.