We are currently experiencing technical difficulties with our telephone system.
We apologise for any inconvenience and are working to resolve this as soon as possible.
Evolution Money
Customer Enquiries 0161 814 9158
This website uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Continue
Secured Loans > Election 2015: Conservative and Labour clash over top taxation rate

Election 2015: Conservative and Labour clash over top taxation rate

8th April 2015 | Published by Evo Money

Chancellor George Osborne has said that the Conservative Party has no plans to lower the top taxation rate should they win the next election. The Labour Party accused him, however, of refusing to rule such a move out.

Labour called on the government to promise that it will not cut the highest rate of taxation, which is currently 45 per cent for those who earn more than £150,000 per year. The Coalition government reduced the top rate from 50 per cent to 45 per cent in 2013.

Ed Balls, the shadow chancellor for the Labour party, criticised Osborne’s refusal to say categorically that he will not cut the top rate.

George Osborne was speaking to Sky News when he said that it is not ‘our plan’ to introduce a five per cent cut to the highest taxation rate. When asked if he was prepared to rule out such a cut explicitly, he replied that the Conservative Party planned to increase the tax free personal allowance to £12,500, so that people who work full-time for the minimum wage will not have to pay tax. He also said that his party intends to increase the amount people must earn before they pay the higher tax rate of 40 per cent, to £50,000. It is currently at £42,400.

David Cameron said that a cut to the top rate is not part of their policy or plan. The Labour Party has made a commitment to re-introduce the 50 per cent top taxation rate, should it win the next election, for people earning more than £150,000. It has also pledged to cut and then freeze taxation rates for small businesses.

Both the Liberal Democrats and Labour have promised to introduce a mansion tax on homes with a value of more than £2 million.

Category: Money
This post was written by Evo Money
Warning: Late payment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

How our customers rate us

We’re proud of the high standard of our customer service and believe that each of our customers should be treated as an individual.
Evolution Money 96 out of 100, based on 178 reviews over the past year. 178 user reviews. Read our reviews

Members of the The Finance & Leasing Association

FLA logoWe are a member of the FLA (Finance and Leasing Association) and subscribe to its lending code.

Socialise

Feeling social? Check out our social pages!

Tweet us on Twitter
Like us on Facebook
Add us on Google+

Our Address

Evolution Money,
9 Portland Street,
Manchester,
M1 3BE


Registered Company Number: 06987852

Contact by Phone

General Enquiries:
0161 814 9158

Complaints:
0161 814 9165

Contact by Email

Evolution Money Limited is a licensed credit broker and service provider to Evolution Lending Limited. If your application doesn’t meet the underwriting requirements of Evolution Lending Limited we may pass your information to other lenders and brokers. Evolution Money Limited is a company registered in England & Wales, registration number 06987852 and registered at 8 St John Street, Manchester, M3 4DU. Authorised and regulated by the Financial Conduct Authority, firm reference number 708324.

© 2020 Evolution Money | Cookies | Complaints Policy | Breaking Down Our Loans | Terms & Conditions | Fair Processing Notice
Start Here
Please wait

Please wait

Don't leave just yet!

Evolution Money are a multi Award Winning UK finance company with thousands of happy customers!

Award Winning

Our friendly loan advisors can let you know if you're eligible for a loan without affecting your credit score. Why not give us a call today!

Freephone 0800 144 8188

Back to Evolution