[Un-allotted Half Day] — Future Government Spending

Part of Opposition Day – in the House of Commons at 3:31 pm on 4th March 2015.

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Photo of David Gauke David Gauke The Financial Secretary to the Treasury 3:31 pm, 4th March 2015

My hon. Friend is absolutely right. The problem with the 50p policy is that it is not an effective way to raise revenue. Our record is very clear: we have been very effective at getting more money out of the wealthy. As we see from the IFS analysis today, the wealthiest have made the biggest contribution. What we are left with is a symbolic gesture, not a tax policy.