NDM story number 2

Newspapers give Labour's 50p tax rate proposal the thumbs down :

. The announcement by Ed Balls that Labour will reintroduce the 50p top rate of income tax for those earning over £150,000 went down very badly with the majority of today's national newspapers.

. Columnists railed against Labour's decision. Most leading articles were hostile.

. recognised that it would have political benefits, pointing out that 60% of the people polled in recent research supported a 5% increase in the top rate.

. "As David Cameron will say to the Federation of Small Businesses today, we rely on the country's wealth creators to produce the jobs on which our long-term security relies. It is, frankly, insulting of Mr Balls to suggest that the high earners who provide most of the tax revenues have not played their part in the recovery.

. The 50p rate "will raise funds to cut the deficit. It is both fair and popular. Opponents should be required to declare any financial interest."

. The Guardian, in an editorial headlined "More than small change", argued that "the commitment to a new tax rate is warmly welcome" despite no-one knowing "how much will be raised." I

My opinion : 
this will cause a few problems and arguments as many people will not want to pay more tax

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