Written by Harry Johnson for the Telegraph
On the 25th November when NGSpy was taking Chancellor MQ’s he told the House one of his top priorities was implementing dividend imputation.
“I shall seek to freeze the current tax increases on the lower bracket of tax as a top priority, as well as implementing other policies in the Phoenix Coalition agreement such as dividend imputation and the corporation tax rate.”
This was several months before any budget deal was announced with the Libertarian Party. Whilst Mr Chompsky would like to claim this was a Libertarian policy and that that is no u-turn from NGSpy the facts do not stack up in his favour. Dividend imputation was featured in the phoenix coalition agreement and NGSpy had even asked Friedmanite19 to consider the policy when the LPUK Leader was Chancellor.
On September 10th NGSpy asked the following question to the then Chancellor Friedmanite19
“Will the Chancellor inform the house of the government’s policy in regards to getting rid of double taxation caused by capital gains tax and corporate tax taking effect on the same profits in cases of dividends?”
This seems to directly contradict the current Chancellors stance that double taxation is not a problem. Friedmanite19 told the Telegraph that “Dividend imputation had been suggested by NGSpy, it was one of his key policies and I was happy to work with him to achieve it, it’s a shame to see him roll back on his economic principles and kowtow to a Chancellor who is keen on destroying the legacy of the phoenix budget”
It is also unclear whether the government even acknowledges the existence of double taxation at all with the Chancellor claiming that double taxation is “Double taxation is a misleading buzzword with zero economic literacy.”, despite their now Chief Secretary making the issue of double taxation a focal point of his economic policy whilst he was Chancellor.
It is clear that Labour have ceded control of the Treasury to Mr Chompsky allowing him to trample on their flagship policies with the Chancellor arguing that dividend imputation picks winners and losers and that double taxation is a buzzword with no literacy with their previously dissenting deputy nowhere to be found.