Local MP leads Commons vote to review top rate of income tax

Jonathan’s effort backed by 231 MPs

Finance Bill

Member of Parliament Jonathan Edwards led the House of Commons this week (Tuesday 9th April) with his calls for a review into top rate of income tax.

The highest rate of income tax was set at 40 pence until April 2010 when it was put up to 50 pence just days before the 2010 general election. This rate was later dropped to 45 pence by Conservative Chancellor, George Osborne – a move which Carmarthenshire MP Jonathan Edwards branded “a tax cut for those earning £3,000 a week.”

When the initial measure was included in the 2012 Budget the House of Commons divided on a resolution following a vote called for by Plaid Cymru and SNP MPs. On this week’s efforts 231 MPs supported the local MP.

During the debate Jonathan Edwards said that tackling inequality is the biggest political issue of our time and that progressive taxation must play a role in that. He told fellow MPs that very few people in Carmarthenshire earn more than £3,000 a week to enjoy the tax cut.

Local MP and Treasury spokesperson, Jonathan Edwards said:

“My party has a longstanding policy to reinstate the 50p top rate of income tax. It was a cornerstone of our Budget proposals this year and the last. Reducing the rate was one act that undermined the UK government’s propaganda line and proved that we in fact we are not ‘all in it together.’

“Progressive taxation is key to tackling inequality – one of the biggest challenges facing Western economies today. Even the IMF now agrees that reducing inequality is essential if economies are to grow sustainably in future.

“The UK government has shown itself to be utterly out-of-touch by cutting taxes for individuals earning £3,000 a week or more. Earning that amount is an alien concept to the vast majority of my constituents and is why I was determined to lead the efforts to restore the higher tax rate.

“The UK has a regressive taxation system. We are seeing the poorest pay more of a share of their income in taxes than the richest. This is simply not fair and why I brought the vote to Parliament.”

ENDS

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