Clegg pledges no further cuts to top tax rate

Addressing attendees at the Liberal Democrat party conference this afternoon, Clegg said he would not permit a reduction in the top rate of income tax below the existing 45p. At the last Budget, the Conservative/Lib Dem coalition government announced the income tax rate for those earning above £150,000 would be reduced from 50p to 45p from next April. It also said it would raise the threshold at which people start paying tax to £9,205. Of these measures, Clegg said he "insisted" on the second, "conceded" on the first, but that he stood by the package as a whole. "There can be no...