Last week, I participated in a debate over a proposed New Clause 14 to the Finance Bill.
The Clause would see the Chancellor being required to publish a report on the additional rate of income within three months. This report would set out the impact on Exchequer receipts of an additional rate, set at 50p, and the effect of reducing the additional rate.
The 50p tax cut has been widely publicised and much debated. I think that it is time for the Chancellor to produce the figures once and for all to show the damage that has been done to our economy and end the constant back and forth so that we can put the issue to bed.