Ming Campbell‘s damning verdict on Gordon Brown’s 2007 budget:
The big increase in taxation is a doubling of the starting rate of income tax rate. The income tax changes announced in the budget will mean that anyone earning less than around £15,000 will pay more in income tax.
UPDATE: One year on…
Gordon Brown today admitted making “two mistakes” over the abolition of the 10p starting rate of income tax.
In an interview on BBC Radio 4’s Today programme, the prime minister conceded more clearly than he has done before that the final budget he introduced as chancellor was flawed…
“We did not cover as well as we should that group of low-paid workers and low-income people who don’t get the working income tax credits,” Brown said.
“And we were not able to help the 60 to 64-year-olds who do not get higher pensioner tax allowance.”