In fact, he wants to raise taxes on everyone. In his \”accountant\’s manifesto\” we have:
Deny tax reliefs of more than £5,000 a year to any person to prevent wasteful tax planning
The personal allowance is a tax relief. The personal allowance is currently £6,475 a year.
Therefore not only will that have to be reduced (and the elderly will lose their higher personal allowances etc) but no one will ever be able to claim any other form of tax relief at all.
I\’m unconvinced that this is a good idea really.
The rest of it is just as bizarre:
All accountants to be required to subscribe to a Code of Conduct requiring that they comply with the spirit as well as the letter of all law…
Companies to have a duty to stakeholders equal to that of shareholders
That\’s not actually possible. For the interests of stakeholders conflict at times.