Apparently, they’ve finally had enough of the liberal talking points and started looking at the cold hard mackerel of reality
David Cameron and George Osborne are plotting to slash the top rate of income tax to 45p in the pound as early as next March.
The Prime Minister and Chancellor want to make the change after seeing Treasury figures which show that the current 50p top rate will generate only marginal financial gains for the Government.
No 10 sources say cutting the top rate to 45p would cost the Chancellor, at most, £750million a year – paving the way for him to offer a tax cut in the next Budget.
It’ll be interesting when we get to about a year out, and we see their treasury actually gaining money.
But allies of Mr Osborne believe a cut in the 50p rate is necessary to encourage wealth generators to stay in Britain and create new jobs to kick-start growth in the economy.
Couple that with the removal of draconian restrictions and such on business, and England’s economy might rise again.
