Debt group appeals to Chancellor
22/06/2010A debt charity has appealed to the Chancellor to be fair with where he places the burden of paying off the national debt in the emergency budget.
In an open letter to George Osborne, the Child Poverty Action Group (CPAG) reminded him of the government’s obligations under the Child Poverty Act and Equality Act.
One of their key fears is a potential rise in VAT. They state that the poorest 20 per cent of households already pay nearly 12 per cent of their disposable incomes on the tax, so any rise would lead them further down the path of debt misery.
CPAG quote National Audit Office stats, which show that at least £40bn of potential revenue is lost each year due to failure to collect tax effectively.
They recommend that, rather than bring in measures which will lead to more needing debt solutions, the government retains HM Revenue and Customs (HMRC) staff and chase up these lost billions.
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