Plaid Cymru has condemned a Welsh Conservative call for a cut to the 40% tax rate as 'irresponsible' and 'out of touch.' Plaid's leader Leanne Wood says,
Today’s announcement is irresponsible politics and shows why, as demonstrated by last week’s poll, people in Wales do not trust the Conservatives. We are somewhere between three and seven years away from getting powers over taxation transferred to Wales. It is impossible to accurately predict what the Welsh economy will look like at that time. Like the Chancellor’s plans for growth, this statement from the Tories and its timing can't be taken seriously.
If they want to encourage entrepreneurship, why aren’t they taking immediate action to help Welsh businesses? Why aren’t they changing the business rates regime so that some of our small and medium sized private sector employers can be helped to protect or create jobs? And why won’t they make capital gains tax fairer? That’s what would make a difference to Welsh entrepreneurs, does the leader of the Conservative group in the Assembly understand that? It seems he doesn't.
If the Conservatives want to help Welsh businesses, then this announcement is mistargeted. Their proposal would principally help people who are already in well-established, well-paid jobs in both the public and private sector. It would do nothing to support business start-ups and early stage companies - the people we should be supporting to create good quality, long-term jobs.
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