TWO potentially important reactions to the pre-budget report tonight:
- the FTSE 100 has experienced a 10 per cent gain – the largest single day gain in its history; and
- the Conservatives have announced that reversing the 45 per cent upper tax rate will “not be a priority” when they’re in government.
Does that mean the Tories support the 45 per cent rate? Or just that they don’t oppose it? And does this mean they disagree with all these CyberTories who swear blind that increasing taxes on the super-rich adversely affects the economy?