David Cameron is planning ANOTHER tax cut for the rich

Over eighteen months on from the “omnishambles” budget, Osborne and Cameron are only beginning to recover from the damage that day did to their reputations. After years of intoning that “we’re all in this together” and that everyone had to pitch in as the government sought to bring down the deficit – they let their guard down and introduced a much lampooned “tax cut for millionaires”.

Labour surged ahead in the polls, and the Tories haven’t been ahead since. Voters regularly describe the government as “out of touch” and the Tories in particular fare badly in terms of “understanding people like me”.

The 50p tax cut was a political disaster for them. But Cameron wants to repeat it. He wants to give top rate taxpayers ANOTHER tax cut.

Here’s the relevant section of his recent interview with the Spectator:

“The top rate of tax has been cut from 50p to 45p and the richest are now paying more income tax than ever. Cameron feels vindicated. ‘I knew we would get attacked for it, but I thought the evidence was so strong that actually cutting the top rate of tax would probably result in more revenue,’ he says. ‘I thought, you can’t just not do something because you’re going to be attacked, that’s just feeble politics.’ His original plan was to cut the tax to 40p, but the Lib Dems vetoed it. Is that the next stop? He purses his lips. ‘I will leave tax as a matter for the Chancellor,’ he says. ‘I am a low-tax Conservative.’”

Prime Minister – please go into the next election promising another tax cut for the rich. It’s hard to think of a greater gift for the Labour Party during the election campaign…