Amendment sought over top tax rate

Wallet
Wallet

Labour has insisted there is a "better way" to tackle Britain's economic woes as it reopened a row over the top rate of income tax.

The Opposition has launched a bid to tack an amendment on to the Finance Bill, which enacts this year's Budget, obligating the Chancellor to review revenues which could be raised by putting the 50p rate back for the 2014/15 year. The Labour plan would also force the Chancellor to report on the losses to the Treasury this year of cutting the rate to 45p at the 2012 Budget.
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