Labour takes risks to escape 10p tax hole

Commenting on the statement today by the Chancellor of the Exchequer on compensation for those hit by the scrapping of the 10p rate of tax, SNP Westminster Treasury spokesperson, Stewart Hosie.

Mr Hosie said:

"Without all the detail, it is difficult to offer anything more than the most guarded welcome for the Chancellor’s compensation proposals.

"We must be sure this is not a cynical compensation con from the Chancellor.

"By Alistair Darling’s own admission, over one million low paid workers are still going to be left worse off. I have serious concerns that Ministers are unable to tell us who will be worse off, and by how much.

"In particular, very serious questions remain over those who pay tax on their savings income. People who save for their old age, and were hit when the 10p rate doubled, appear to go uncompensated by the measures announced today.

"As always with this Chancellor, the devil is very much in the detail."

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