Date published: 2011/08/16
The BBC says:
Deputy Prime Minister Nick Clegg has suggested the 50p top rate of income tax should stay despite growing Conservative hostility to the measure.
Mr Clegg said the coalition's focus in tough financial times was on helping those on low and middle incomes not "a small minority at the very top".
George Osborne has said the tax rate is "very uncompetitive" as top-earners can avoid paying it by moving abroad.
Clegg is not very bright. If it is the case that less, or hardly any more, money is coming in with the 50p tax rate then it is trivially obvious that it is pointless. Presumably the Treasury is doing some sums to estimate the actual impact. Unfortunately Clegg is not the only overly politically opportunistic cabinet minister. Osborne is as well, so he might well skew the results in order to appease the Tory right.
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