Political

Charity donations, tax breaks and the Lib Dem manifesto

Oddly, I’ve not seen anyone mention what the Lib Dem manifesto said about tax and charitable giving in all the current debates over the ‘tycoon tax’ and its proposal to limit charitable tax benefits for the richest.

Here is what the manifesto said:

Liberal Democrats will support the voluntary sector by:…

Reforming Gift Aid to operate at a single rate of 23 per cent – giving more money to charity while closing down a loophole for higher rate tax payers.

In other words, the principle that the tax breaks for charitable donations by the richest should be restricted was what the party was arguing for in 2010. And the party was even saying that the top rate tax relief on charitable tax giving was a “loophole”.

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