Ed Balls promises 50p top tax rate would return under a Labour government

Ed Balls today vowed that a Labour Government would restore the 50p tax rate for people earning over £150,000 a year.

The Shadow Chancellor said the move to restore the top tax rate from 45p to 50p for high earners would be a fairer way of slashing Britain’s deficit.

It comes after Chancellor George Osborne’s controversial decision to cut the 50p rate, introduced by Labour, to 45p from April 2013.

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