It's ok to harangue some MPs and insist they give full and frank responses to all financial aspects of their policies... but ask IDS about welfare reforms and it's a different story. Funny that.
She is living in the real world, where is he getting those figures 50p tax rate could raise nothing?....
According to the IFS lowering from 50p to 40p lost 1 billion so why is it not safe to say that this wouldn't work in reverse? Now that the old measures of tax evasion/avoidance are being exposed and closed?
HMRC’s estimate of taxable income elasticity in line with IFS
estimate from 1980s and other estimates from academic literature
– Suggests cutting to 45p cost £100 million a year, and cutting back to
40p would cost about £1 billion a year
http://www.ifs.org.uk/budgets/budget...amesbrowne.pdf