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Promise to lift threshold for top rate to £80,000 would boost incomes of highest-earning 8% of population
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The IFS has costed the Primer Minister's tax pledge to raise the tax threshold for the top rate of tax from £50,000 to £80,000 and reckons that it will cost the government £8 billion. This is a decent sum, given that the government have already committed to an additional £14 billion in public spending.
It appears that Gordon Brown's obsession with 'prudence' is old news - and there are obvious consequences for public finances and the budget balance.