New Clause 9 — Lower rate of tax and mansion tax

Part of Finance Bill (Ways and Means) – in the House of Commons at 5:30 pm on 1st July 2013.

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Photo of David Ruffley David Ruffley Conservative, Bury St Edmunds 5:30 pm, 1st July 2013

What does the hon. Gentleman say to the Institute for Fiscal Studies, which states that the latest Labour proposal to reintroduce the 10p rate

“has no plausible economic justification. It would complicate the income tax system and achieve nothing that could not be better achieved in other ways”?