Finance Bill
Debate between Bob Stewart and Chris Leslie(10 years, 10 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Bob Stewart
On the 10% tax rate, I understand graduated taxation in principle, but a lot of people who pay the higher rate of tax are not very rich. Paragraph (3) of the new clause says:
“The full benefit of the 10 per cent rate shall not be available to taxpayers paying the higher or additional rates of tax.”
That seems to be pretty unfair on some people.
Chris Leslie
I am grateful for the hon. Gentleman’s thought on this issue, but I disagree. I do understand that more and more people are being brought into the 40p rate. That is another stealthy move by the Chancellor as he broadens out the 40p band. In the interests of fairness, our concern has to be with basic rate taxpayers on the 20p rate. There are 25 million basic rate taxpayers, and if revenue is to be generated from a mansion tax, then most of our efforts should be focused on that group. As my hon. Friend the Member for Clwyd South (Susan Elan Jones) said, that group in society feel under the most pressure and are finding it hardest to get by and to make ends meet, and they would therefore benefit most from this tax cut. It is an important point, and I am glad that the hon. Gentleman raised it.