Return of the (UK) 10p tax band?
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DAVID Cameron dropped a hint yesterday that the 10p tax rate may soon return.
The prospect delighted Tory MPs amid a backbench campaign for the move to help low earners.
The PM’s intervention comes as he begins talks with Chancellor George Osborne in the next few days over the Budget on March 20.
Mr Cameron said at Question Time in the Commons: “The changes the Government has made will particularly help hard-working people on the minimum wage.”
The campaign’s leader, Conservative MP Rob Halfon, wants to see the 10p rate introduced for the lowest income taxpayers who earn around £12,500 a year.
It was controversially axed by ex-PM Gordon Brown in his last budget as Chancellor in 2007.
Tory MPs insist the move — which would cost £7 billion — would be a political masterstroke to help prove the party backs poorer workers.
Mr Halfon said: “I’m over the moon that the PM is now talking about this.” It has the support of at least one Treasury Minister.
But critics say it would also prove incredibly expensive at a time of spending cuts. The PM’s spokesman would only say: “Tax is a matter for the Chancellor.”
It emerged last night that Labour is also looking at bringing back the 10p tax rate. Policy review chief Jon Cruddas said it was “in the mix”.
https://twitter.com/share
https://twitter.com/share
DAVID Cameron dropped a hint yesterday that the 10p tax rate may soon return.
The prospect delighted Tory MPs amid a backbench campaign for the move to help low earners.
The PM’s intervention comes as he begins talks with Chancellor George Osborne in the next few days over the Budget on March 20.
Mr Cameron said at Question Time in the Commons: “The changes the Government has made will particularly help hard-working people on the minimum wage.”
The campaign’s leader, Conservative MP Rob Halfon, wants to see the 10p rate introduced for the lowest income taxpayers who earn around £12,500 a year.
It was controversially axed by ex-PM Gordon Brown in his last budget as Chancellor in 2007.
Tory MPs insist the move — which would cost £7 billion — would be a political masterstroke to help prove the party backs poorer workers.
Mr Halfon said: “I’m over the moon that the PM is now talking about this.” It has the support of at least one Treasury Minister.
But critics say it would also prove incredibly expensive at a time of spending cuts. The PM’s spokesman would only say: “Tax is a matter for the Chancellor.”
It emerged last night that Labour is also looking at bringing back the 10p tax rate. Policy review chief Jon Cruddas said it was “in the mix”.
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