LONDON, Sept. 4 (UPI) -- The Conservative Party in Britain is considering tax reform and perhaps a flat tax.
Tory Shadow Chancellor of the Exchequer George Osborne will unveil a special commission on taxation this week in a speech at the Social Market Foundation, a think-tank, reported the Sunday Telegraph.
Osborne said he would announce he is considering a flat tax that abolishes exemptions and has all taxpayers pay the same rate.
A commission will report next year on how flat taxes have worked in some 11 countries and how it would work in Britain.
"Our hope is to build a narrative which makes sense of tax policy in the context of a much broader economic policy," said a senior party leader. "We have to explain how we will deal with the challenge of India and China."
