£1.3 billion for higher-rate payers should be used to reverse welfare cuts

The Liberal Democrats recently voted against the Government's plans to raise the higher-rate tax threshold to £50,000.

The policy will cost an estimated £1.3 billion pounds next year, money which could instead be used to reverse cuts to Universal Credit or end the benefits freeze a year early.

Leader of the Liberal Democrats Vince Cable said "Government is about priorities. With public services desperate for investment, now is not the time to reduce taxes for high earners. Instead Philip Hammond should have used the money to further reverse cuts to Universal Credit or end the benefits freeze a year early."