Miliband calls for 10p tax rate

The Labour leader Ed Miliband has said he would use the next Budget to bring back the 10p rate of income tax, paid for by a "mansion tax" on homes worth more than £2m. The 10p tax band was controversially scrapped by Gordon Brown.

Latest ITV News reports

We would 'put right a mistake' made by Gordon Brown

We would tax houses worth over £2 million and we would use the money to cut taxes for working people.

We would put right a mistake made by [former Prime Minister] Gordon Brown and the last Labour government.

We would use the money raised by a mansion tax to reintroduce a lower 10p starting rate of tax, with the size of the band depending on the amount raised.

This would benefit 25 million basic rate taxpayers and it would move Labour on from the past and put Labour where it should always have been - on the side of working people.

– Ed Miliband, Labour leader

Davey: Miliband tax plan 'is best form of flattery'

The Lib Dem Energy Secretary Ed Davey has told ITV News he is "delighted" Labour has "seen the error of their ways" by announcing plans for a "mansion tax" on houses worth £2 million:

Our flagship policy is fairer taxes.

People copying you is the best form of flattery.

If Labour are realising they should have supported the "mansion tax" when we argued for it when they were in government and could have delivered it, then I am delighted that they have seen the error of their ways.

– Energy Secretary Ed Davey

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