Sir George to advise Shadow Chancellor on Tax Policy
13 Oct 2004
Shadow Chancellor Oliver Letwin today named a six-strong team of Tory MPs who will advise him on possible reforms to the tax system.

The panel is made up of five former Financial Secretaries to the Treasury - Peter Lilley, Francis Maude, Stephen Dorrell, Sir George Young and Michael Jack and the current Shadow Financial Secretary to the Treasury, Andrew Tyrie.
At the Tories' annual conference in Bournemouth last week, Mr Letwin deferred making promises to cuts to specific taxes, but identified eight areas of taxation which need to be reformed because they are either unfair or too complicated.



They were council tax; inheritance tax; stamp duty; income tax and National Insurance thresholds and marginal rates; taxation of savings and pensions; capital gains tax; small business taxation; and environmental taxes.

The panel will begin work later this month when the party publishes the first of eight consultation documents on reforming those areas of taxation.

Once responses to the papers have been gathered, the panel will advise Mr Letwin and party leader Michael Howard on preferred options for change.
 
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