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10% turmoil

29 April 2008 / Mike Truman
Issue: 4156 / Categories: Comment & Analysis , Income Tax
MIKE TRUMAN examines whether the Labour rebels got anything like what they were asking for

If an announcement is made in Budget 2007 to take effect from April 2008 when is the best time to make a fuss and try to change it?

Immediately after Budget 2007 I would have said; certainly no later than PBR 2007. If the Chancellor doesn't back down in Budget 2008 then forget it.

Labour MPs know better. There were a few honourable exceptions but most started to complain just as the new rates of tax came into force.

Although they have achieved concessions from the Chancellor they have not been able to retain the 10% rate because to do so would have unpicked the Budget.

But what is on offer was enough to persuade the rebel leader Frank Field MP to withdraw the amendment that had threatened the Government with defeat.

Note that I am writing this before the debate on...

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