As I have previously blogged, extortionately high marginal tax rates that low earning Brits suffer is a disgrace. Therefore, I am delighted to see that the Liberal Democrats have weighed in with a surprisingly bold and eye-catching proposal that does begin to address this important political issue.
Cynics may argue that this cut will be chewed up by their local income tax and of course we wait to see detailed analysis of their sums, but I am glad to see one of our major parties setting a tax-cutting agenda. In their statement, Ming Campbell said;
“The unacceptable reality is that in Britain today the poorest pay a higher proportion of their income in tax than the super-rich."
It is indeed unacceptable. Can Mr Osborne and his newly revitalised Treasury team please get a grip and start to give us a clue what they are going to do to tackle this issue?