Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleShabana Mahmood, widely tipped to be Andy Burnham’s choice for the next chancellor, previously rallied against the Conservative government’s reduction of the top income tax rate. In 2014, Ms Mahmood stated it was 'wrong' for the government to cut the additional rate of income tax from 50p to 45p, labelling it a 'tax cut for millionaires'. The Institute for Fiscal Studies estimated the 2014 tax cut would cost the exchequer around £700 million a year, a move also opposed by then-Labour leader Ed Miliband. Despite Ms Mahmood's past stance, Labour's 2024 manifesto pledges not to increase income tax, National Insurance, or VAT for 'working people', making a return to the 50p rate unlikely. Andy Burnham, set to become prime minister, has not ruled out a wealth tax and indicated 'some room within [Labour’s] manifesto for movement on tax' for other revenue-raising measures. In fullChancellor favourite Shabana Mahmood backed 50p income tax rateMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
How a 50p income tax rate would work – and does Shabana Mahmood support it?
Jump to contentThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged inAllNewsSportCultureLifestyleShabana Mahmood, widely tipped to be Andy Burnham’s choice for the next chancellor, previously rallied against the Conservative government’s reduction of the top income tax rate. In 2014, Ms Mahmood stated it was 'wrong' for the government to cut the additional rate of income tax from 50p to 45p, labelling it a 'tax cut for millionaires'. The Institute for Fiscal Studies estimated the 2014 tax cut would cost the exchequer around £700 million a year, a move also opposed by then-Labour leader Ed Miliband. Despite Ms Mahmood's past stance, Labour's 2024 manifesto pledges not to increase income tax, National Insurance, or VAT for 'working people', making a return to the 50p rate unlikely. Andy Burnham, set to become prime minister, has not ruled out a wealth tax and indicated 'some room within [Labour’s] manifesto for movement on tax' for other revenue-raising measures. In fullChancellor favourite Shabana Mahmood backed 50p income tax rateMore bulletinsThank you for registeringPlease refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in
