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Clause 3 — Abolition of starting and savings rates and creation of starting rate for savings

Part of Orders of the Day – in the House of Commons at 8:45 pm on 28th April 2008.

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Photo of Jeremy Browne Jeremy Browne Shadow Minister (Treasury) 8:45 pm, 28th April 2008

Let me make this clearer. The Liberal Democrats' objective is to ease the tax burden on people with very low incomes who cannot afford it at present. The Government propose to double the 10p rate to 20p for those people, going completely in the wrong direction. We could choose to use the 10p mechanism to assist those people, or it could be done some other way. A millionaire pays less as a result of the 10p rate decision, so I appreciate that it is not a very focused tax reduction for people on low and low-to-middle incomes, but it is a hell of a lot better than what the Government are proposing, which is that that tax burden should be doubled for those people.

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