Good to hear John McDonnell speaking at PMQs. Not very long ago at all, he was universally derided as the looniest Lefty for many a long year, and kept off the ballot for Leader of the Labour Party, because he advocated a fifty pence top rate of tax on income above one hundred thousand pounds.
Yet now, for good or ill (since it is perfectly easy to avoid if you happen to have that sort of money to start with), there is a fifty pence top rate of tax on income above one hundred and fifty thousand pounds. The difference is negligible: even the hundred grand figure covers only one per cent of the population.
And what is more, the Tories would not repeal it.
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