Chris Ruane
Main Page: Chris Ruane (Labour - Vale of Clwyd)Department Debates - View all Chris Ruane's debates with the HM Treasury
(12 years, 5 months ago)
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Chris Ruane (Vale of Clwyd) (Lab)
If it is such a sensible, logical and scientifically researched conclusion that reducing the tax rate from 50% to 45% is such a good thing, why do the great British public not believe it?
Mr Gauke
I do not know whether the great British public have reached that conclusion. Perhaps some of them believe some of the arguments put by the Labour party, but if they do I have to point out some of the weaknesses. In the Committee of the whole House, the hon. Member for Pontypridd (Owen Smith), who previously spoke for the Opposition on this issue, said that he considered the taxable income elasticity calculations in the report to be “smoke and mirrors”. We would call them analysis and economics.