Business secretary Vince Cable has signalled that the Liberal Democrats are willing to scrap the 50p tax rate, in exchange for a "mansion tax" on high value property.
Conservative MPs are pressing for the tax - levelled on earning above £150,000 - to be scrapped ahead of the Budget on 21 March. Cable told the Today programme: "There is a broad understanding... that if the 50p rate were to go - and I and my colleagues are not ideologically wedded to the 50p tax rate...
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