March 16th, 2012

Better Late Than Never

Budget purdah aside, the Guardian got the leak that everyone was chasing. Patrick Wintour reports:

“The chancellor has, sources say, been intellectually persuaded of the case for a cut in the top rate, a move that will endear him to the Tory right.”

Given that this sounds like a recent conversion to basic economic principles, Guido wouldn’t be so sure about the word “endearing”. Having got in touch with Team Ed this morning, they are yet to confirm or deny that Labour would reinstate the rate, on the off chance he ever ended up in power that is.

Tricky one for him…


48 Comments

  1. 1
    Trev says:

    But of course the left are going mental over this which the cut is right thing to do.

    Like

    • 6
      nellnewman says:

      Labour said that raising the top tax rate to 5op was going to make £13.6billion for the Treaury. OK. How much has it raised so far?

      Errr It’s lost the Treasury a £halfbillion per month since inception.

      Another failed labour’bright’ idea!

      Like

      • 9
        jgm2 says:

        It was never about raising money. It was another act of Brownian spite designed to fan the flames of class war. Daring the T*ries to cut it so they could go on about ‘Tax Cuts for the Rich’.

        He really was/is a wicked and malicious c*unt.

        Like

        • 13
          roy says:

          i thought he kept it at 40p because its sensible and raised to 50p to give them some ammo when they knew they would lose the election. they’d have had it back down if they’d won and called it a temporary measure.

          it was a landmine laid in order to blow the leg off an incoming conservative administration – pure politicking

          Like

          • My comment is awaiting moderation says:

            And if the BBC were to start reporting facts instead of spouting socialist dogma it wouldn’t be an issue.

            But the Tories are too frit to tackle the Beeb.

            Like

        • 16
          nellnewman says:

          Wicked and malicious describes gordy and the labour party to a T.

          But we must also never forget that they are economically incontinent and incompetent on an industrial scale.

          Like

          • M says:

            Labour are gonna have to raise a lot of tax from somewhere to guarantee yes guarantee millions of youth jobs

            Like

      • 10
        Edwardo Ballso says:

        It is called the politics of envy.

        Like

    • 14
      Ed Miliband says:

      Like

  2. 2
    None Dom says:

    Whateva

    Like

  3. 4
    nellnewman says:

    ” on the off chance he (miliband) ever ends up in power” !!

    His foray into policy making this morning has militwit saying he’ll 1) tax bankers bonuses to create another 100000 non jobs a la gordonbrown and 2) he’ll abolish bankers bonuses.

    With policies like that he isn’t ever going to get near No.10. At least we’d better hope not!!!

    Like

  4. 7
    Empty vessels make the most noise. says:

    Lefties make a great sounding board. The more they howl, the more you know you are right and the more they purr, the more you know you are wrong.

    Like

  5. 8
    sandy says:

    Unpopular decisions like this have to be taken to get this country back on its feet. That’s why voting Lib Dem or Labour is only an option for the gullible and ignorant.

    Like

  6. 11
    Show Biz for ugly people says:

    Cut it any way you want, right or wrong this isn’t going to be a vote winner; George going to bat for the top 1% in times like this isn’t good optics and it gives the LibDums an opportunity to look like any goodies for the less well off were the result of them pressuring the heartless Bullingdon boys.

    Cheap politics from them and the NuLab shower of twats but effective.

    Like

  7. 12
    Gideon's Bible says:

    How about cutting taxes for business in general?

    Cutting taxes for small business in particular?

    Cutting taxes on the squeezed middle or the workers who will re-inject that money straight into the economy?

    No, cut taxes on your rich best mates.

    All in this together.

    Like

    • 27
      Bailed Out London Banker says:

      Gideon is such a good boy

      He listens to our bent PR company

      I will now employ another maid on the tax savings on the income I declare (in the UK not my offshore income of course)

      All in this together as you rightly say

      Like

  8. 15

    But the rich are not actually paying 50% tax on all their earnings. They are only taxed at the 50% rate on earnings over £150,000, below that level they are taxed at the same rate as the rest of us. And anyone earning over £150,000 can certainly hire an accountant who will make sure he pays less tax than the rest of us.

    Like

  9. 17
    Ken Livingstone says:

    How would this affect me? (It’s not like I pay 50p now, anyway.)

    Like

  10. 23
    Guardian Newspapers Chief Spin Doctor says:

    A reduction in income tax on all our overpaid journalists is very welcome

    Our hedge fund is not producing enough to cover their huge salaries and vast expenses

    Our hedgies need to speculate more…

    Like

  11. 26
    I don't need no doctor says:

    So I suppose those at the Guasrdian affected will refuse the cut and make a donation to charity. Of course we must include all of the labour MP’s that disagree with the cut.

    Like

  12. 29
    I don't need no doctor says:

    The Daily Politics has morphed into the Daily Labour Show.

    Like

  13. 30
    I don't need no doctor says:

    Harriet Harman is on the Daily Politics lying through her teeth. Deluded woman, deluded labour. Labour need a whole new crew, and not the Blair/Brown left over crap.

    Like

  14. 31
    I don't need no doctor says:

    Harman doesn’t know how much the bankers tax would raise. She also doesn’t know how much the youth work scheme would cost.
    Jo Coburn is doing her best to help her out. Why? If it was a coalition MP Coburn would be pulling them to pieces. For fucks sake how blatant!

    Like

  15. 37
    nellnewman says:

    Well I see labour’s morning is going ‘really well’

    Senior managers have cleared off to the races for the day whilst the party is in crisis.

    militwit just launched a press conference to tell the world what he’s going to about the 900000 plus unemployed youth that labour created during 13 years of government.

    militwit telling us that first he’s going to ban bankers bonuses and then he’s going to tax them to create 100’s of 1000’s of nonjobs for those failed youths.

    And to cap it all hattyharpic being asked by audience how much money will the banker bonus tax raise saying err ummm I’ll need to get back to you on that.

    Like

  16. 38
    CHRIST ON A BIKE! says:

    They should get rid of the 50p tax rate, for no other reason, than it was introduced by Mandelscum and Darling to deliberatley cause grief for the Conservatives when they came to power. Business and their back benchers will be pushing to get rid of it, which then leaves them open to accusations by the left that they are just helping the rich etc.

    The 50p tax band was a shitty piece of politicised legislation designed to give Labour a platform to attack the “nasty” tories and nothing to do with moral or economic sense. Typical of the way Labour conducted themselves in government and the natural opposition, and not governing, mentality they have.

    Like

    • 40
      nellnewman says:

      But labour said it would raise £13.6billion in Revenue!!

      Now they find its lost £halfbillion a month for the Treasury.

      Failed Labour. Poor Failed labour. +Shakes head in despair+

      Like

  17. 43
    pen4old says:

    So much for Budget purdah.

    Like

  18. 44
    Ebenezer Scrooge says:

    I welcome this news. It’s not enough that my fellow good businessmen and me already have more money than we can spend, we want more.

    We only create wealth for ourselves and no one else. The workshy poor who won’t do lots of work for minimum wage can die and decrease the surplus population.

    Like

  19. 45
    Mike Barnes says:

    Wait a minute, Tories cutting taxes for the one percent is somehow a bad day for Ed Miliband because erm….

    Deary me.

    Like

  20. 48
    Grouchmonkey says:

    It isn’t a vote winner but it makes sense. So wehn do you do it – now or nearer the next general election? No brainer.

    Like


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