New Clause 14 — Report on the additional rate of income tax

Part of Finance Bill – in the House of Commons at 1:45 pm on 1st July 2014.

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Photo of David Gauke David Gauke The Exchequer Secretary 1:45 pm, 1st July 2014

The hon. Lady accuses the Government of being ideological here. For the avoidance of doubt, were there to be yet another study that showed that the 50p rate failed to raise any substantial sums of money, would the Labour party still go ahead with an increase in the additional rate of income tax from 45p to 50p?