Ravenwood - 06/20/03 02:15 PM
"How can we ensure that hard-working middle income families and the low paid get a better deal, except by those at the very top of the pay scale contributing more?" -- Peter Hain, leader of the UK House of Commons.
Peter Hain is concerned that the UK's top tax bracket, a whopping 40%, is affecting too many middle class families. One Labour Party solution being offered is to raise the top tax bracket to 60%, so that more middle and low income families can be moved out of the higher brackets.
An opponent of that plan, "shadow chancellor" Michael Howard, says "They haven't learnt the lessons of the 1970s when under Labour tax levels rose to 98%."
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