Mike Opposes Millionaires Tax Cut

 

Mike Gapes with Labour Shadow Chancellor Ed BallsLast week Mike Gapes joined Shadow Chancellor Ed Balls at the House of Commons to challenge the Tories and Liberal Democrats on their plans to introduce a tax cut for 13,000 millionaires worth an average £100,000 next month.
 
Instead Mike joined his Labour colleagues 
to support a mansion tax on properties over £2 million.  This would pay for the reinstatement of a 10p tax rate to help millions of people on low and middle incomes.
 
Today  under David Cameron and Nick Clegg families are working harder, for longer, for less.  The talents of too many of our young people are going to waste and prices go up and up.  The economy isn’t growing – it has now flatlined for over two years - and the deficit is rising, not falling. 
 
David Cameron’s answer is a race to the bottom in wages and skills, rewarding those at the very top with a huge tax cut, but leaving everyone else squeezed as never before.  
 
Our recovery needs to be built by the many, not just a few at the top – and this should be reflected in a fairer tax system. 
 
We’re putting Labour where it should always be – on the side of working people.  
 
 

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