Kirsty Walker and Nicola Boden
UK Daily Mail
Wednesday, Dec 9th, 2009
Alistair Darling today gambled Labour’s future on a highly-political Pre-Budget Report that targets the better-off to help reduce Britain’s collossal debt.
In what the Tories branded his ‘pre-election report’, the Chancellor slapped a £560million 50 per cent ‘super tax’ on bankers’ bonuses, affecting any payouts over £25,000.
And he sought to draw up the battle lines of the next general election by announcing thousands more high earners would be clobbered by the new top tax rate of 50% which comes in next year.
It was due to hit people earning more than £150,000 when it comes into force next April but today it was extended to include anyone whose total pay and pensions exceed this figure.
Mr Darling said this would hit people earning over £130,000 or more. ‘The biggest burden will fall on those with the broadest shoulders,’ he warned.
The 0.5 per cent rise in National Insurance announced in April was doubled to 1 per cent. Anyone earning more than £44,000 will also face an extra hit, costing them hundreds more a year.
“When the people find they can vote themselves money, that will herald the end of the republic.” – Fall Of The Republic – Buy the DVD here
This article was posted: Wednesday, December 9, 2009 at 11:42 am