Liberal democrats ready to back down over 50p tax rate
Liberal Democrat leader Nick Clegg signalled he was ready to back down over scrapping the 50p tax rate for the most wealthy, as the Lib Dem conference got underway in Birmingham.
kSectionSeparatorToken ``Liberal Democrats are working for a stronger economy and a fairer society, so that everyone can get on in life. That's why we are cutting taxes for working people. ``Today's announcement means that by April, Liberal Democrats will have cut your income tax bill by £600 a year. ``Liberal Democrats want fairer taxes, which is why we made raising the tax-free allowance our number one priority at the General Election -- so important that we put it on the front page of our manifesto. ``When times are tough, with rising bills and wages not keeping pace with inflation, we want to give people real, practical help. ``Cutting Income Tax will not deal with all of those problems, but it will help. And I hope it will make a big difference to every family in this country.''