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Part of Prayers – in the House of Commons at 12:00 am on 16th June 1988.

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Photo of Tim Boswell Tim Boswell , Daventry 12:00 am, 16th June 1988

Does my right hon. Friend agree that there was not very much point in earning an extra £1 when one needed to earn an extra £50 to keep that pound? In those circumstances it would have been far better to go to a Socialist country, such as New Zealand, with a top tax rate of about one third, as applied under the previous Labour Administration.