Darling: 50% tax is here to stay
Chancellor Alistair Darling has stated that the 50% rate of income tax is here to stay throughout Labour’s term in parliament.
Darling confirmed the top rate of tax on people earning more than £150,000 would remain at 50p in the pound for the whole of the next Parliament to fully benefit the UK’s coffers.
“It is necessary to raise this money over a four-year period. No Chancellor would want to put a time limit on any taxes,” said Mr Darling.
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