Labour fears Osborne tax cut 'give-away'

Posted On: 
5th March 2015

George Osborne could be planning 'give-away' tax cuts in his upcoming pre-election Budget, senior Labour figures fear.

The Times reports that the Chancellor could bring forward proposals to raise the level at which National Insurance is raised, a cut for most people.

The move would present a conundrum to Labour who have already laid out some details of their spending plans.

The Chancellor would fund the move with a raid on pension savings made by top earners. 

Last week, Ed Miliband's proposed tuition fees cut, to be funded by a pensions grab, was criticised for benefiting wealthier students. Mr Osborne's proposal is said would benefit the lowest paid most.