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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 7:45 pm on 28th April 2008.

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Photo of Philip Hammond Philip Hammond Shadow Chief Secretary to the Treasury 7:45 pm, 28th April 2008

The hon. Gentleman makes a good point. This tax change, which has had a negative impact on 5.3 million of the poorest households, comes at a time when earnings are stagnant and prices are soaring, leaving the average family squeezed in a vice-like grip. This measure is all the Government can offer them; at a time when those households need a hand up, all the Government offer them is a tax increase.

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