BusinessCompany NewsBlair rules out top rate tax rise

Blair rules out top rate tax rise

The Prime Minister has ruled out raising the top rate of tax - a day after one of his former speech writers suggested the move was 'essential' if taxation of people on lower incomes was to be relaxed.

Blair promises tight rein in third term

During a biannual meeting with senior MPs Tony Blair was asked whether he agreed with comments made by Peter Hyman that a top rate tax should be introduced for people on higher incomes.

Blair said that he was ‘not in favour’ of raising the top rate of tax and moved swiftly to clear up the situation.

‘There have been hundreds of thousands of children and almost 2m pensioners lifted out of acute hardship, there are people benefiting from the working families tax credit and from the minimum wage.

‘These are big changes. Do we need more? Yes we do. That is why you have got to continue the programme of investment and reform but I do not think we should dismiss the progress that is being made,’ the Financial Times reports.

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