Let’s take this tax opportunity

WHILE it is a cause of celebration that Wales has, after 800 years, gained the responsibility to levy a limited number of taxes, I read the Western Mail article “History in making as new Welsh taxes introduced” with some trepidation.

Although in theory Wales has a fantastic opportunity to use taxraising powers for the benefit of all, it is unlikely that this opportunity will be taken.

Wales will become ever more uncompetitive with the implementation of seemingly minor, but cumulatively damaging peripheral taxes, inspired by the socialist love of endless political tinkering and unwarranted complexity to intrude in the lives of ordinary people.

The ill-thought-out and potentially disastrous changes to Residential Land Transaction Tax rates are a perfect example of this relentless and counterproductive ideology which merely wishes to punish “rich” people rather than pragmatically increase the absolute tax take for the benefit of all.

It has been tragic for Wales that an entrenched anti-capitalist ideology has endured in virtually every public institution for the last century or so despite overwhelming empirical evidence that capitalism is the engine for social mobility and higher living standards. The tax burden in Wales and the UK is currently at its highest level for 40 years.

It would be enormously refreshing if Wales used its powers to cut taxes in order to stimulate economic activity, rather than stifle it – for example, why not lobby for the right to set the currently penal rate of Air Passenger Duty? And then cut it to zero? I think you would find that Cardiff Airport’s prospects would be improved by this.

Wales has a huge opportunity to use tax-raising powers to encourage business and individuals to create wealth for the benefit of all. Let’s take it.

Mark Rhydderch-Roberts Crickhowell