Top income tax rate falls to 45%
A raft of government changes to tax reform come into effect from today, including a cut in the top rate of income tax from 50p to 45p.
Tax change spin war fought on Twitter
Prime Minister David Cameron took to Twitter to highlight the increase in the personal tax allowance. He wrote:
Mr Cameron also included a link to a new Conservative poster outlining the change with the headline "Help for Hardworking People".
Labour launched its own poster - with the tag "Who Wants to Bung a Millionaire? Dave Does" - setting out claims that high earners are benefiting while millions are worse off under coalition reforms.
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