Why the 50p tax-cut is based on Osborne’s own dodgy dossier

Yesterday, the Government released the long-awaited HMRC report on the impact of the 50p tax. The report argues that the tax only raised around £1 billion a year – lower than the Treasury's initial forecasts of £2.6 billion a year. This has seeped into received media wisdom, confirming the prejudices of much of the right leaning press. It was used to justify cutting the rate to 45p. But the evidence in support of what the Chancellor argued is not there.

Source: http://liberalconspiracy.org/2012/03/22/why-the-50p-tax-cut-is-based-on-osbornes-own-dodgy-dossier/

Gina Carano Gina Gershon Gina Philips Gisele Bündchen