The rate of Asset Tax for individuals will be harmonized with the rate of tax on earned income, and all allowances for each will be pooled, in order to ensure that work is rewarded and incentivised to the same extent as investment.
Investigate possible reforms to the way VAT is applied to goods and services with a view to making it less regressive and, ultimately, to remove the poorest from having to pay entirely. This may require renegotiating our obligations to the EU, which makes VAT compulsory for all member states.
Increase inheritance tax as much as possible, and use the revenue to reduce income tax (as described above). This is on the principle that inheritance, even for those lucky enough to get it, is capricious and as the population ages increasingly likely to arrive too late to be of any use. Instead, we prefer to have more money while working.
We will support research into a universal basic income and its effects on society and the economy, with the aim of eradicating poverty and providing a basic standard of living for all.