Rachel Reeves needs to remember Labour’s position on the top tax rate when in Government - Yorkshire Post Letters

Rachel Reeves (October 1) complains about Kwasi Kwarteng's proposed cut in the top rate of income tax to 40 per cent.

We must remember that her party's Government under Messrs Blair and Brown was content to leave that rate at 40 per cent for twelve years and eleven months out of thirteen years in office, only raising it to 50 per cent for its last months in office in order to set a trap for its successors.

Experience has shown that cuts in higher rates of tax by previous chancellors have caused tax revenues from higher rate taxpayers to rise rather than fall. Kwasi Kwarteng is cutting this rate in order to boost our economy and raise more tax revenue.

Similarly his cancellation of Rishi Sunak's big increases in Corporation Tax and National Insurance Contributions is designed to boost production and raise more revenue in years to come.

Let us hope that his measures will help Britain recover from its present economic setbacks, which have been brought about by lockdown, furlough and war in Eastern Europe.