Clegg emphasizing arrival of new GAAR in Budget 2012

Deputy PM, Nick Clegg

This article was last updated on April 16, 2022

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Deputy PM, Nick CleggU.K. Deputy Prime Minister, Nick Clegg promises to tackle the tax dodging by the rich through introducing new rules in the Budget 2012.

Mr. Clegg has acknowledged that he could not write Chancellor George Osborne’s 2012 budget for him, but has made the suggestion that new rules should be introduced to prevent abuse of the current system by big companies.

The Prime Minister, David Cameron has showed his concerns by telling leading business owners this morning that the U.K. needed a “tougher approach” for taxing “bigger companies and wealthy individuals”.

Mr. Clegg has told that widespread anger is being prevailed among ordinary people towards the way the large business leaders are managing to play with the taxation system.

To confront this situation, Clegg has emphasized on the creation of a new General Anti-Avoidance or Anti-Abuse Rule (GAAR) as told by him in an interview with BBC Radio 4’s Today this morning.

It was recommended by a government-commissioned report in December that presented GAAR as a viable way to crack down on tax abuse and simplify the system to have equal treatment for all under the same rules.

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