Socialist Worker

Still taking cash from the poor

Issue No. 2159

The row over the 10p tax rate was revived on Tuesday when Labour backbenchers threatened to block Gordon Brown’s entire budget over the issue.

The MPs point out that 1.3 million of the poorest people are still worse off as a result of Brown scrapping the 10 percent tax band in 2007.

The move was the last straw for many working class Labour voters.

The government was facing a possible defeat as Socialist Worker went to press, and looked likely to make concessions on the issue.

Meanwhile the rich are coming up with scams to avoid paying the new 50 percent tax rate set to be introduced in 2010.

The Growth Securities Ownership Plan allows companies to sell “phantom” shares, saving bosses as much as 40 percent on their tax bill.

It’s one law for the rich and another for the poor.

If you enjoy Socialist Worker, please consider giving to our annual appeal to make sure we can maintain and develop our online and print versions of Socialist Worker. Go here for details and to donate.

Article information

Tue 7 Jul 2009, 18:50 BST
Issue No. 2159
Share this article

Mobile users! Don't forget to add Socialist Worker to your home screen.