Budget 2014: Tory Lords call for rise in 40p tax rate threshold
- George Osborne should use next week’s Budget to reduce the number of middle-income earners paying the 40p tax rate.
- The report said while the coalition government had raised the threshold at which people start paying any income tax to £10,000, the threshold for higher rate taxpayers had not moved with inflation.
- Prime minister David Cameron told the BBC he was committed to delivering tax cuts for low and middle-income earners.