Cameron to quit 50p tax scrap move

Updated

It's thought David Cameron and George Osborne have abandoned any hope of scrapping the 50p tax rate for top earners for the time being. Until recently many have claimed the 50p tax rate - paid on every pound earned more than £150,000 - damaging to the UK economy, as well as affecting only a limited number of earners. So why have they changed their mind?

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