Justin Tomlinson
Main Page: Justin Tomlinson (Conservative - North Swindon)Department Debates - View all Justin Tomlinson's debates with the HM Treasury
(12 years, 5 months ago)
Commons ChamberThe 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.
If Labour Members felt that the 50p rate was so good, why did they introduce it as only a temporary measure?