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| - | George Osborne is considering cutting the 50p top rate of income tax in next week's Budget, the BBC understands.
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| - | Prime Minister David Cameron will discuss the Budget with the chancellor and other senior ministers on Friday.
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| - | There is speculation the tax on earnings over �150,000 could be reduced to a 45p rate or scrapped entirely in return for tax cuts for low earners.
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| - | Labour leader Ed Miliband said it was the "wrong priority" and money should be spent on jobs for young people.
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| - | The coalition's "quad" of top ministers, Conservatives Mr Cameron and Mr Osborne and Lib Dems Nick Clegg and Danny Alexander are discussing the Budget by telephone on Friday.
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| - | Temporary tax
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| - | All budget decisions will have been made by the end of Friday so that the details can be sent to the Office for Budget Responsibility.
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| - | The government-appointed body will use these tax and spending decisions to make its economic forecasts.
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| - | Continue reading the main story
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| - | �Start Quote
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| - | For a chancellor sometimes likened to a submarine - George Osborne has never been timid about deploying a torpedo�
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| - | image of Ben Wright Ben Wright Political correspondent, BBC News
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| - | Is Osborne planning a 50p tax surprise?
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| - | The 50% income tax rate was introduced by the previous Labour government in 2010, to help pay for declining government revenues during the recession.
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| - | Mr Osborne has always said it was a temporary measure and has asked officials to assess how much extra it is raising.
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Current revision as of 16:46, 7 November 2022
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