Ten Things You Need to Know Today: Monday 21 May 2012

1. SINGLE 30% INCOME TAX RATE DEMANDED

A single 30% rate of income tax is required to boost growth in the UK, a report by lobbying groups claims. The report, from the 2020 Tax Commission, also suggests the abolition of national insurance, and for the basic personal allowance to be raised to £10,000. The Commission is joint project between the Taxpayers' Alliance and the Institute of Directors.

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