Downing Street Says » 50p tax rate

» Friday, November 11, 2011

50p tax rate

Asked if the Prime Mister agreed that one way to stimulate growth would be to abolish the 50p tax rate, the PMS said our priority was to protect the UK economy from the global economic storm. He referred to the Chancellor’s comments in the Budget that the 50p tax rate should be a temporary measure, but he did not think that it would be the right time to remove it when we were asking others in society on much lower incomes to make sacrifices. The PMS said the Chancellor had asked the Treasury to look at how much revenue the 50p tax rate generated.

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