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| MP Field's 'tax or charity' call | MP Field's 'tax or charity' call |
| (about 1 hour later) | |
| The "super rich" should pay 10% more tax on earnings over £150,000 or give the same amount to charity, senior Labour MP Frank Field has proposed. | The "super rich" should pay 10% more tax on earnings over £150,000 or give the same amount to charity, senior Labour MP Frank Field has proposed. |
| Mr Field, MP for Birkenhead, said his proposals would fulfil Margaret Thatcher's dream of a "giving culture". | Mr Field, MP for Birkenhead, said his proposals would fulfil Margaret Thatcher's dream of a "giving culture". |
| He said his hope was to "breathe life into this noble aspiration". | He said his hope was to "breathe life into this noble aspiration". |
| The former welfare minister suggests the move could raise £3.6bn a year. It comes amid controversy over plans to tax wealthy "non-domiciled" people. | The former welfare minister suggests the move could raise £3.6bn a year. It comes amid controversy over plans to tax wealthy "non-domiciled" people. |
| Mr Field said Baroness Thatcher had always been puzzled that her tax cuts did not lead to more charitable donations and philanthropy. | |
| 'Philanthropic' | 'Philanthropic' |
| He said: "On one occasion, Mrs Thatcher expressed her surprise to me that a giving culture had not been re-established in the wake of her government's radical tax-cutting strategy, which saw the top rate of tax cut from 98p to 60p and then to 40p in the 1979 and 1988 budgets. | He said: "On one occasion, Mrs Thatcher expressed her surprise to me that a giving culture had not been re-established in the wake of her government's radical tax-cutting strategy, which saw the top rate of tax cut from 98p to 60p and then to 40p in the 1979 and 1988 budgets. |
| "Mrs Thatcher anticipated the advent of an American model of philanthropic donation that would significantly change British public culture. | "Mrs Thatcher anticipated the advent of an American model of philanthropic donation that would significantly change British public culture. |
| "While there have been some notable exceptions, Mrs Thatcher's hopes lie stillborn." | "While there have been some notable exceptions, Mrs Thatcher's hopes lie stillborn." |
| Mr Field, a former welfare reform minister, added: "Here I suggest that a more radical approach to tax changes could be used to breathe life into this noble aspiration; a 10% surcharge on earnings above £150,000 which can be totally offset by charitable giving." | Mr Field, a former welfare reform minister, added: "Here I suggest that a more radical approach to tax changes could be used to breathe life into this noble aspiration; a 10% surcharge on earnings above £150,000 which can be totally offset by charitable giving." |
| Speaking at the annual Allen Lane Foundation Lecture, he said this levy could raise £3.6bn a year for the Treasury. | Speaking at the annual Allen Lane Foundation Lecture, he said this levy could raise £3.6bn a year for the Treasury. |
| John Wesley | John Wesley |
| Mr Field said: "This could encourage richer taxpayers to embrace the responsibilities of wealth that were, for example, such a characteristic of an equally flamboyant and rich Edwardian age. | Mr Field said: "This could encourage richer taxpayers to embrace the responsibilities of wealth that were, for example, such a characteristic of an equally flamboyant and rich Edwardian age. |
| "As John Wesley was fond of commending, while we should make as much money as we can, we should, likewise, give money away in equal proportion." | "As John Wesley was fond of commending, while we should make as much money as we can, we should, likewise, give money away in equal proportion." |
| Since coming to power in 1997, Labour has rejected calls to increase taxes on the wealthy, although some ministers, such as environment secretary Hilary Benn, have made the case for more charitable donations. | Since coming to power in 1997, Labour has rejected calls to increase taxes on the wealthy, although some ministers, such as environment secretary Hilary Benn, have made the case for more charitable donations. |
| On Friday, Trade and Industry Minister Lord Jones said London's leading role in global finance could be damaged by plans to tax "non domiciles" - wealthy individuals who have homes in the UK for tax purposes. | On Friday, Trade and Industry Minister Lord Jones said London's leading role in global finance could be damaged by plans to tax "non domiciles" - wealthy individuals who have homes in the UK for tax purposes. |
| The Treasury plans to charge £30,000 a year to foreigners who have claimed tax-exempt status on their overseas earnings for more than seven years. | The Treasury plans to charge £30,000 a year to foreigners who have claimed tax-exempt status on their overseas earnings for more than seven years. |
| Lord Jones said the proposals would make it harder to attract investors and business people to London. | Lord Jones said the proposals would make it harder to attract investors and business people to London. |