Labour candidate for London Mayor, Ken Livingston, has used a loophole to get out of paying £50,000 in tax. Paying corporation tax at 20% - 21% instead of income tax at 40% as that was the top rate at the time. He also split his income 50/50 with his wife despite it all being earned by him. Mrs Livingston was being paid as his assistant there by saving more tax payments.
Mr Livingston who has called for a top tax rate of 80 per cent, has made attacking “the rich” a key part of his campaign to retake his old job at this May’s election. He has criticised tax avoiders, saying: “These rich bastards just don’t get it. No one should be allowed to vote in a British election, let alone sit in Parliament, unless they pay their full share of tax.
Mr Livingston confirmed his tax arrangements to the Sunday Telegraph. Mr Livingstone has previously described the loophole he used as “Robin Hood in reverse”.
So Red Ken believes that people indulge in tax avoidance shouldn't be allowed to sit in Parliament, I agree with him. Surely he also thinks that people who don't pay their fair share of tax shouldn't be allowed to run for any public office or is it the same as usual with him: one rule for Ken - a different one for everyone else!