John McDonnell MP, Labour’s Shadow Chancellor, responding to Philip Hammond’s refusal at Treasury Questions today to rule out cutting the top rate of tax from 45p to 40p in next week Budget, said:

“It is alarming that the Chancellor is happy to admit he is prepared to continue with brutal cuts to disability payments next week, but he won’t rule out further unfair tax giveaways to a wealthy few such as cutting the top rate of tax. When he is slashing public services in this parliament how can he not rule out another handout to the wealthy?

“Philip Hammond has shown that he is prepared to follow on with George Osborne’s failed austerity cuts, and it looks like he could go even further than his predecessor with the tax giveaways to a wealthy few - paid for on the backs of the disabled and the poor.

“It is very simple, if the Chancellor has no plans to cut the top rate of tax to 40p in this parliament then he can simply put the record straight.”