Budget 2012: George Osborne cuts 50p top tax rate
George Osborne has cut the tax rate for earnings over £150,000, saying in his Budget that it raised "next to nothing".
He is also going to raise the threshold at which people start paying tax to £9,205, leaving millions of working people over £200 better off.
The chancellor said that the Budget "rewards work" but Labour Leader Ed Miliband labelled it a "millionaire's Budget".
The BBC's James Landale reports.
21 Mar 2012
- From the section UK Politics