Can George convince us that lower tax rates produce a higher yield. Will the polls turn for the Tories? twitter.com/MSmithsonPB/stâ€¦
— Mike Smithson (@MSmithsonPB) December 7, 2012
For me the most signficant feature of George Osborne’s Autumn statement was the ferocity in which he defended the reduction, announced in the March budget, of the top rate of income tax from 50p to 45p.
His argument was straightforward – there were no apologies for the decision because the lower rate will produce a higher tax yield.
The problem is that this doesn’t resonate so easiliy especially during a period of austerity when most people are having to tighten their belts in some way.
Osborne maybe right but he’s got a big communications task on his hands.
So are we going to see the Tories back with the 3% ICM lead they were enjoying before the budget? Take the PB poll.
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