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Libdems abandon 50p tax opposition… for?


3:39 pm - March 16th 2012

by Sunny Hundal    


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The Telegraph reports today:

Government sources last night said that Nick Clegg, the Deputy Prime Minister, was prepared to accept the end of the 50p tax rate in exchange for tax cuts on low earners and tighter tax rules.

Now, I think a cut to the 50p tax rate is unlikely. As one minister tells the Telegraph, anonymously: “It would be a disaster for us if we were seen to cut taxes for people on £150,000 at the same time as taking child benefit from people on £45,000. I can’t believe George would make that mistake.”

Indeed.

But I have a question – what exactly do the Libdems get out of this deal? They spent all last year saying the 50p tax was not going to be cut. They said it repeatedly, over and over.

And now they’ve given… for what? For reducing increasing the tax threshold? Something that was going to happen anyway? Something that even Tories are campaigning for?

What kind of negotiation is this?

The Telegraph is being generous here – the Libdems have given up on this issue too.

LibdemVoice is strangely silent on the issue.

Update: I missed that Social Liberal Forum had released a statement criticising the 50p tax cut.

LibdemVoice have now published an editorial criticising this move too.

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About the author
Sunny Hundal is editor of LC. Also: on Twitter, at Pickled Politics and Guardian CIF.
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Reader comments


1. MichaelFromNorwich

Osborne is also taking £300 per month from people working 16 hours a week minimum wage and can’t find the extra 8 hours (and I’ve spent six months trying!), never mind child benefit for £45,000 earners! If there were extra hours at work, I think they’d be given to those on the dole to do for nothing. Sorry, work experience.

But, sighs, never mind. Those wealth creators will, in a few years, create lots of well paid jobs for me and my spawn to create more wealth thanks to their tax cut.

The Lib Dems are not to be trusted.

Think Tuition Fees. Think Privatising the NHS. Think Attacking the disabled and vulnerable…Now think rob the poor and give to the rich.

Ordinary people will not forgive them for the cuts to their wages and increased living costs.

Well, the 50p rate is supposedly bring in “hundreds of millions”.

Things the Lib Dems might have got ‘in return’ are:

– The mansion tax, which would raise £2.7bn

– Closing the ‘offshore’ stamp duty loophole could raise £1.7bn.

– Reducing pension tax relief for high earners, or some similar change, would also raise at least £1bn.

I can’t say that any of these things will happen but then neither might dropping the 50p rate.

As for what you mistakenly call “reducing the tax threshold”, the personal allowance is indeed set to be increased but Clegg and co. want it increased more rapidly than planned.

As amazing as it might seem from such an informative online organ, LibDemVoice is run and written by volunteers (*gasp*), including party activists and the occasional independent contributor and is not a professional 24hr news outlet that comments on every bit of LibDem-related news. In short, there’s nothing strange or suspicious about it.

Clegg really is a man of paper. He folds every time the tories click their fingers. It is fascinating to see how corrupt the Lie Dems are. There is almost nothing they wont give away.

And what have they got for their lies and obedience?

Nothing.

I suspect Clegg will get a place in the Lords or a European post. He’s certainly not going to be re-elected.


Reactions: Twitter, blogs
  1. AlmosJustice

    Could @LibdemVoice explain what their party got for abandoning opposition to 50p tax rate? http://t.co/rgPZbLvQ

  2. Warren Peace

    The Libdems have given up their strong opposition to 50p tax rate. For what? Nothing? Really? http://t.co/rgPZbLvQ

  3. Peter Underwood

    Could @LibdemVoice explain what their party got for abandoning opposition to 50p tax rate? http://t.co/rgPZbLvQ

  4. liane gomersall

    Libdems abandon 50p tax opposition… for? | Liberal Conspiracy http://t.co/RDb16NFg via @libcon

  5. Patron Press - #P2

    #UK : Libdems abandon 50p tax opposition … for? http://t.co/LoF8Kdv2

  6. Linda Burnip

    Libdems give up 50p tax opposition for nothing http://t.co/lqo3MsJB

  7. Huw Parker

    Could @LibdemVoice explain what their party got for abandoning opposition to 50p tax rate? http://t.co/rgPZbLvQ

  8. Tomos Heise

    Could @LibdemVoice explain what their party got for abandoning opposition to 50p tax rate? http://t.co/rgPZbLvQ

  9. Alan Hinnrichs

    #Libdems abandon #50p #tax opposition… for? | Liberal Conspiracy http://t.co/arN1QagO via @libcon

  10. Kevin Donovan

    Could @LibdemVoice explain what their party got for abandoning opposition to 50p tax rate? http://t.co/rgPZbLvQ

  11. David Davies

    Libdems abandon 50p tax opposition… for? ~ http://t.co/yEzxGENF





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