Justin Tomlinson
Main Page: Justin Tomlinson (Conservative - North Swindon)Department Debates - View all Justin Tomlinson's debates with the HM Treasury
(12 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Gauke
The hon. Lady asks what research we have. I am holding it in my hand: the document produced by HMRC, which sets out a thorough analysis. I urge her to read it and to see that it is far from speculative; it is a thorough piece of work, which shows that as a result of the 50p rate total income fell by between £2.9 billion and £4.4 billion and GDP was between 0.2% and 0.3% lower. There has been not just a loss of tax revenue, but a loss to the whole economy through lower productivity and lower economic activity.
Justin Tomlinson (North Swindon) (Con)
If Labour Members felt that the 50p rate was so good, why did they introduce it as only a temporary measure?