Labour steps up its 50p tax attack with new "Tory Millionaire's Day" campaign

Ahead of the abolition of the 50p tax rate on 6 April, Labour looks again to paint the Tories as the party of the rich.

When I recently interviewed Conservative MP Robert Halfon, who first called for the reintroduction of the 10p tax rate, he lamented how Labour's "brilliant" campaign against the abolition of the 50p rate had defined the Tories as "a party only interested in cutting taxes for millionaires". More than any other single measure, the move retoxified the Conservative brand and confirmed the Tories' status as "the party of rich". Every time that David Cameron defends an unpopular tax rise or spending cut, Ed Miliband is able to remind voters that he has simultaneously chosen to reduce taxes by an average of £107,500 for 8,000 income-millionaires.  

With just over a month to go until the tax cut is introduced on 6 April, Labour is stepping up its campaign against the measure. The party has today launched a new ad featuring Cameron writing a cheque for £100,000 to "a millionaire" and a clock counting down to "Tory Millionaire's Day". In response, expect the coalition to point out that the new 45p rate is, as Danny Alexander recently noted, still higher than the 40p rate seen for 155 of the 156 months that Labour was in power. 

Alongside the new campaign, I'm told that Labour, encouraged by how Barack Obama forced Mitt Romney onto the defensive over his tax bill, will continue to challenge the PM to say whether he will benefit from the reduction in the top rate. Private polling by the party has previously shown that 62 per cent of voters, including 46 per cent of Conservative supporters, believe he should "come clean and tell people honestly whether he is personally benefiting". 

Unlike George Osborne, who said last year that he would not gain from the move, Cameron has so far refused to say whether he will. When challenged on this subject by Stephen Pound MP at PMQs earlier this month, the PM replied evasively that he would "pay his taxes". Under ever-greater pressure from Labour, the Tories will need to decide whether this strategy is sustainable.

Labour's new advert reminds voters that those earning a million pounds a year will gain more than £100,000 from the cut in the top rate of tax.

George Eaton is political editor of the New Statesman.

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Jeremy Corbyn will stay on the Labour leadership ballot paper, judge rules

Labour donor Michael Foster had challenged the decision at the High Court.

The High Court has ruled that Jeremy Corbyn should be allowed to automatically run again for Labour leader after the decision of the party's National Executive Committee was challenged. 

Corbyn declared it a "waste of time" and an attempt to overturn the right of Labour members to choose their leader.

The decision ends the hope of some anti-Corbyn Labour members that he could be excluded from the contest altogether.

The legal challenge had been brought by Michael Foster, a Labour donor and former parliamentary candidate, who maintained he was simply seeking the views of experts.

But when the experts spoke, it was in Corbyn's favour. 

The ruling said: "Accordingly, the Judge accepted that the decision of the NEC was correct and that Mr Corbyn was entitled to be a candidate in the forthcoming election without the need for nominations."

This judgement was "wholly unaffected by political considerations", it added. 

Corbyn said: "I welcome the decision by the High Court to respect the democracy of the Labour Party.

"This has been a waste of time and resources when our party should be focused on holding the government to account.

"There should have been no question of the right of half a million Labour party members to choose their own leader being overturned. If anything, the aim should be to expand the number of voters in this election. I hope all candidates and supporters will reject any attempt to prolong this process, and that we can now proceed with the election in a comradely and respectful manner."

Iain McNicol, general secretary of the Labour Party, said: “We are delighted that the Court has upheld the authority and decision of the National Executive Committee of the Labour Party. 

“We will continue with the leadership election as agreed by the NEC."

If Corbyn had been excluded, he would have had to seek the nomination of 51 MPs, which would have been difficult since just 40 voted against the no confidence motion in him. He would therefore have been effectively excluded from running. 

Owen Smith, the candidate backed by rebel MPs, told the BBC earlier he believed Corbyn should stay on the ballot paper. 

He said after the judgement: “I’m pleased the court has done the right thing and ruled that Jeremy should be on the ballot. This now puts to bed any questions about the process, so we can get on with discussing the issues that really matter."

The news was greeted with celebration by Corbyn supporters.