Tories to take 1m out of higher tax rate after general election, George Osborne suggests

The Chancellor indicates that the Tories could commit to taking middle-class Britons out of the 40p income tax band in their first Budget after May’s general election, in a move that would save them £1,300 a year:

The Conservatives will pledge to take nearly a million people out of the 40p higher rate of tax in the months following the general election, George Osborne has indicated. The Chancellor said that his Liberal Democrat colleagues had blocked him from raising the higher rate tax threshold in his pre-election Budget on Wednesday.
However, he strongly indicated that the Tories could commit to taking middle-class Britons out of the 40p income tax band in their first Budget after May’s general election, in a move that would save them £1,300 a year. David Cameron last year pledged to raise the 40p threshold by at least 2020 if the Conservatives win a majority. But comments by Mr Osborne on Thursday suggest that the Tories are planning to accelerate those plans.

Any manifesto pledge would electrify the election campaign and would be designed to woo back disaffected Ukip voters and wavering Labour supporters across middle England. The Conservatives are also set to announce that they will raise the inheritance tax threshold to £1 million. Mr Osborne appeared to suggest that he had been considering making an announcement on the 40p rate of tax this week, but that it was vetoed by Nick Clegg, the Deputy Prime Minister. The Chancellor announced in his Budget that the personal allowance will go up to £11,000, but he said that the Tories want to raise it further, to £12,500.
 

http://www.telegraph.co.uk/finance/personalfinance/tax/11484250/Tories-to-take-1m-out-of-higher-tax-rate-after-general-election-George-Osborne-suggests.html

Saw Ed Ballsup on tv trying to big up Labour by saying he would do better, what a big blustering wanker he is.

nicko wrote:Saw Ed Ballsup on tv trying to big up Labour  by saying he would do better, what a big blustering wanker he is.

Could not have put it better myself Nicko.