There is some contention in the media today over whether Prime Minister David Cameron has pledged to raise the threshold for the higher rate of income tax. Cameron said yesterday “I would love to make more promises. I understand the problem with the 40p rate kicking in while people aren’t earning a lot of money but I have to look very carefully at the books before I can make any promises about it.”
The comment comes as Minister for Government Policy Oliver Letwin was reported by the Daily Mirror to have been recorded considering a flat tax rate when speaking to rightwing thinktank Politeia.
Meanwhile, the Labour party has been forced to reject claims it is considering a 15 per cent “death tax” on estates after a recording surfaced of Shadow Health Secretary Andy Burnham musing over proposals at the Fabians’ Summer Conference last month.