David Cameron should strongly oppose and promise to scrap the 50% tax rate for those earning over £150,000.
It is a typical Labour gimmick and the public are sick of their spin and lies. The 50% tax rate will raise about £1bn, which is less than the increase in fuel duty will raise. Compared to the £600bn Darling is going to borrow over the next four years, the gains from this politically motivated tax hike are a drop in the ocean. Do the public really want to see the country's money makers used has political pawns by Labour? Do they really want to see our highfliers driven abroad?
This is the Tory Toff campaign all over again and I believe the public won't fall for it. In fact I think they will be repulsed by more of Labour's cynical class politics.
UPDATE: I've just had another thought - just watch what this tax rate will do to charity incomes. I'm sure many paying 50% tax will say that they are already doing their bit and stop giving.
(No I don't earn anywhere near £150,000).
6 comments:
It is more subtle than that, and I think he should avoid falling into Labour's trap
I agree, but Cameron will fall into a trap. He's much better off concentrating on the other more shocking aspects of the budget, which by all accounts are already falling apart - it normally takes a couple of days!
Pragmatism by Cameron needed here I think
The Tory Toff campaign turned into a huge plus for us. I think could be the same.
50% is how Labour want to turn the Tory Toff strategy to their advantage. They want us to oppose it, I didn't join the Conservative Party to play into Labour tactics.
Should have called for a Vote of No Confidence in the bastards
The Tory policy should be as it is - 'don't like 50p but it will have to take its turn with other tax changes'.
Like increasing allowances at 20p and 40p - not to mention helping out the millions who still are losing out in the 10p fiasco (watch this space on that one!)
Like doing something about the NI increase.
The other point is that if on assuming office the tories find that its not bringing in any money they have a ready made excuse for repealing it.
So this is a dead issue really.
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