Finance (No. 2) Bill

Debate between Shabana Mahmood and Stewart Hosie

Wednesday 25th March 2015 Commons Chamber

[Stewart Hosie (Dundee East) (SNP)]

The hon. Lady is absolutely right that that rate of tax should have gone up to 50p during the downturn and that it should not have been cut. She is equally right to compare the tax cut for millionaires with the poverty of ordinary people, so why did Labour Members sit on their hands when we had the one opportunity not to have a tax cut for millionaires?

[Shabana Mahmood]

One of the things about the annual debate on the 50p rate is that the usual suspects make the same points in exactly the same way. We have heard that point from several members of the hon. Gentleman’s party. I say to him what I have always said—that we have had a consistent approach to the top rate of tax. There has been no change to that, and we will put it up to 50p if we are elected in a few short weeks’ time.