Labour leader Ed Miliband is set to condemn the government's decision to scrap the 50p tax rate in a wide critique of the coalition's economic policies, as the political battle lines are drawn ahead of next month's Budget.
During a speech due to be given later on Thursday in Bedford, Miliband will say the government's approach is flawed in that it appears to hope wealth will "trickle down" from the rich to the rest of the country, reports the BBC. The tax rate for high earners will be cut from 50p to 45p later this year, as announced in last year's Budget. The move will affect some 300,000 additional rate taxpayers. This year's Budget will take place on 20 March. "We need very successful entrepreneurs in Britain, making profits, being rewarded," Miliband is due to say. "But we can't succeed as a coun...
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