Scrapping the 50p top rate of income tax would be "morally repugnant" and "economically witless", Liberal Democrat president Tim Farron told his party's conference in Birmingham.
In a speech which made a point of highlighting the differences between the coalition parties, he said Liberal Democrat ministers were reining in the Conservatives over calls for the 50p tax rate for people earning over £150,000 to be axed. "At a time when 90% of the country is struggling to pay the rent or the mortgage, giving a 10p tax cut to those who need it the least, would not just be economically witless, it would be morally repugnant. "Danny (Alexander), Vince (Cable), Nick and I are absolutely clear - the wealthy will continue to pay the largest share of the cost of our recove...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes