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Re: More cuts from failing Osborne
Quote:
SLASHING the top rate of income tax from 50p to 45p raised £8billion from the super-rich in a year, George Osborne claimed last night.
But despite the cash boost, Treasury sources ruled out cutting the rate to 40p — even if this brought in more revenue.
A jubilant Chancellor yesterday told the Commons that new figures on income tax data for 2013/14 showed there was an £8billion increase in revenues from wealthy top rate taxpayers.
Mr Osborne claimed it “completely defies” predictions made by Labour that cutting the rate from 50p to 45p in the pound would cost £3billion and give top earners an average £10,000 tax cut.
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Linky
And if you don't like that source try this one
It all depends on who you believe.
---------- Post added at 08:59 ---------- Previous post was at 08:52 ----------
Perhaps a more credible source is this paper from the LSE:
cep.lse.ac.uk/pubs/download/EA029.pdf
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History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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