Lib Dems to put pay to loopholes

The Liberal Democrats pledged a crack down on Stamp Duty loopholes as part of their pre-election campaign last week.

The party also outlined plans to raise the 0% Income Tax threshold from £6, 475 to £10,000, which it says would save four million of the lowest paid workers from paying the tax.

Nick Clegg, leader of the Lib Dems, says: “Over time a tax system has developed that creates loopholes for the wealthy and does nothing for those who really need help.”