Sentences with phrase «45p top rate of income tax»

Clegg indicated that the new tax would fall on wealth, rather than income, because there were no plans to change the new 45p top rate of income tax.

Not exact matches

Balls called on Osborne to continue the U-turns from March's Budget, the chancellor's last major setpiece event, by reversing the cut in the top rate of income tax from 45p back to 50p and scrapping tax rises for pensioners.

The decision to cut the top rate of income tax from 50p to 45p from April next year will no doubt generate much political heat.

Shadow chancellor Ed Balls called the decision to reduce the top rate of income tax to 45p a «gamble» - and pointed to figures from HM Revenue and Customs (HMRC) which the independence Office for Budget Responsibility (OBR) has labelled «highly uncertain» to back his case up.

Contrary to George Osborne's assertion that the 50p top rate of income tax was not bringing in enough money to warrant its existence, MPs said the benefits of reducing the rate to 45p were «highly uncertain».

George Osborne was accused of prioritising a tax cut for millionaires today, after he cut the top rate of income tax from 50p to 45p.

David Cameron and George Osborne are considering emergency plans to slash the top rate of income tax from 50p to 45p in the pound, according to reports.

The Chancellor has suggested that he will not reduce the top rate of income tax from 45p to 40p - a controversial move called for by some senior Conservatives, which would have been seen as a tax break for the rich.

Cutting the top rate of income tax from 50p to 45p cost around # 100m but other measures to tax the rich, such as raising the stamp duty on multimillion pound properties and capping relief, would raise # 500m to # 600m.

MP Tom Watson and Shadow Chancellor Ed Balls unveil a Labour poster against the government changes to tax reform come into effect, including a cut in the top rate of income tax from 50p to 45p.