David Gauke
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Conservative minister: '50p tax rate would raise little'

Conservative Treasury minister David Gauke said he stood by the figures produced in HMRC analysis which showed the 50p rate would raise "little, if anything".

He told the BBC: "Under this government, the wealthiest are paying a greater share of income tax than they ever have before, and we are bringing in a whole host of measures to ensure that the wealthiest pay the most."

His comments came after shadow chancellor Ed Balls said Labour would reintroduce the 50p top rate of income tax for those earning over £150,000, if it returns to power.

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