22 March 2012
Harriett Baldwin challenges the Shadow Chancellor to commit to reinstating the 50p tax rate.
Harriett Baldwin (West Worcestershire) (Con): May I therefore assume that a 50p tax rate will be in the shadow Chancellor’s next manifesto?
Ed Balls: There will be a vote next week, and we will vote against the 50p change. It is the wrong tax cut at the wrong time. I have always said that no tax rate is set in stone, but how can anyone believe it is right to take tax credits from working families, child benefit from middle-income families and more tax from pensioners, but give £10,000, on average, to every top rate taxpayer in the country? If there were a general election tomorrow, our manifesto would state clearly that we would reverse it. That is the clearest answer I will give.
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