- Tax expert Dan Neidle has proposed 37 options for Andy Burnham to raise the £4.7bn needed to fund the gap in the defence budget.
- One controversial suggestion is means-testing the state pension, which Neidle estimates could save £1bn annually by blocking the wealthiest 1 per cent from receiving it, though he acknowledges it would be seen as unjust.
- Burnham has ruled out increasing income tax, VAT, or National Insurance contributions, but has discussed changing business rates for large online retailers.
- Neidle's top suggestion is to continue fiscal drag by freezing income tax thresholds, which could raise significant funds by including more people in higher tax brackets.
- Other proposals include raising Capital Gains Tax, introducing an exit tax for wealthy individuals leaving the UK, increasing inheritance tax, and eliminating stamp duty loopholes for commercial property.
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