This Government has a great record on cutting income tax. When we came to office, people had to earn £6,500 before they paid income tax. This has been raised to £10,000. This is an income tax cut for 25 million Britons. I took part in a debate on the Government's record on income tax.
Charlie: If Labour went down the route of a 10p tax band in place of the £12,500 personal allowance that Government Members want to see, surely that would leave people on £11,000 worse off.
Charlie: Will my hon. Friend confirm the position on the change in receipts? It looks to me from my studies of Inland Revenue statistics, which are frequent, that the receipts from this additional rate seem to have risen from about £40 billion to £49 billion.
David Gauke (Treasury Minister): I will turn to the analysis done by Her Majesty's Revenue and Customs, which is at the heart of the debate, but there is no reason to believe that that has proven to be inaccurate, or that suddenly there is this huge stream of revenue that is available to the Exchequer that we have forgone. The truth is that there are much better ways of raising money from the wealthiest than a 50p rate that proved to be ineffective.
It has been an honour and privilege to serve as Member of Parliament for Dover & Deal. I hope to be re-elected to serve our community for another term.
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