Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, responding to the OBR’s commentary on today’s public sector finance figures, said:
“It’s significant that the OBR has pointed out that very high earners delayed their bonuses to take advantage of David Cameron’s top rate tax cut.
“While this artificially boosts this year’s borrowing figures, overall the Treasury will have lost millions of pounds as a result of the highest earners deferring income to pay tax at a lower rate.
“This is yet more proof that David Cameron stands up for the wrong people. While those at the top are reaping the benefits of a huge tax cut, ordinary people on middle and low incomes are seeing their living standards fall.”