Ed Balls has said a further reduction to 40p would benefit them by £340,000, £1.94 million and £3.94 million over the course of the next parliament, it said.
While millions are paying more, millionaires are paying less.
David Cameron and George Osborne have given the very highest earners a huge tax cut. The Tories ditched the idea that we are 'all in this together' and looked after their friends first.
And if the Tories win the election, they're set to give the top 1% of earners another big tax cut - cutting the top rate of tax again from 45p to 40p.
How can this be fair when working people are struggling, our NHS is in crisis and when we still need to get the deficit down?
The personal tax allowance would rise to £12,500 under the Lib Dems, funded by a crackdown on tax dodgers, leader Nick Clegg has revealed.
Millions of households would be better off under a Tory government, David Cameron will claim today as he hails "money-back Monday".
A Conservative government would aim to double the number of first-time buyers by 2020, the Chancellor has declared.