Thursday, 10 January 2013

Labour accept that we are taxing the rich more – and taxing the poor less


The simple truth about this Government’s changes to taxation is that the rich are paying more now than they ever did under 13 years of Labour. Ed Miliband and his cronies had no answer to that fact in the welfare debate on Tuesday, and had no answer at PMQ’s yesterday. Even their friends in the press admit it.
Below is the Mirror’s political editor, Kevin Maguire, in discussion with Conservative Home’s Tim Montogomerie on twitter earlier this week:
Tim Montgomerie: "Are the rich paying more in tax than under Labour?"
Kevin Maguire: "Yes! Weakness for Mili unless he accepts Labour 13 Year cowardice and pledges to restore 50p on fairness grounds."
Locals will remember that Maguire came recently to Hexham Abbey to do Any Questions live on the BBC. I have met him many times in the House, and he is a very robust socialist, who is very connected to the Labour heirachy. The full exchange is here:
http://conservativehome.blogs.com/leftwatch/2013/01/mirrors-kevin_maguire-admits-top-earners-are-paying-more-tax-under-the-coalition-than-under-labour.html
It is also worth bearing in mind that for 13 years of the Labour government the top rate of tax was 40 pence. They raised it in the last 35 days of their term in April 2010. It is almost laughable when they criticise this government for only having a 45 pence top tax rate. My Liberal colleagues in the House [Sir Bob Russell, and Simon Hughes in particular] constantly chant to the labour benches "13 years - 40 p". As they make clear - Sir Bob is very robust - it is not an ineffective chant.
I believe that we need to concentrate on now is ensuring that we commit to our pledge to increase the tax threshold to £10,000. I am proud that this Government has taken two million of the lowest paid out of paying tax at all, and that those on the minimum wage have seen their income tax cut in half. Slowly but surely we are once again making work pay in this country.

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