Poll: Public reject 50p tax cut

Tax the rich say Labour
Tax the rich say Labour

By Charles Maggs  

 

The vast majority of voters think the government should cancel the reduction in the top rate of tax from 50% to 45%.


The cut will see people earning over £1 million get a tax cut of £40,000 and the polls suggest even a majority of Conservative voters are opposed to the move.



The Labour commissioned poll showed 71% of the public rejects the tax cut. It also found the majority of respondents thought David Cameron should also reveal whether or not he will personally benefit from the cut.

 

"In tough times David Cameron has chosen to give 8,000 people earning over £1 million a tax cut of at least £40,000," said Labour MP Michael Dugher.

 

"Meanwhile millions pay more and his failed economic plan has taken us into the longest double dip recession since the Second World War." 

 

The cut was announced in this year's budget and won't come into effect until April next year.

 

The top rate was 40% for the entirety of Labour's time in office, until one month before the last general election.

 

Ed Miliband confirmed earlier this week he is not in the top income tax bracket, but he refused to reveal whether or not he is a millionaire himself once the property he inherited from his father is taken into account

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