We read in the Independent newspaper about a tax dodge popularly known as the Mayfair loophole and made use of by rich financiers. It seems multi-millionaires can claim capital gains tax of only 28% which in reality should be charged as income and taxed at 45 per cent.
This loses the UK £700 million a year which could benefit our society instead of the ever-greedy rich. Since noticing George Osborne’s Budget makes no mention of closing this tax loophole, local residents will be wondering where they stand with their local MP.
Can Jeremy Wright promise us that this tax dodging loophole is a matter he does feel strongly about and is doing all he can to close?
Glyn and Heather Evans, Eden Croft, Kenilworth