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During the interview, Reid cheekily said to the MP: “You can’t reverse your haircut, but which of the tax cuts would you reverse if Labour wins the next General Election?”
Reeves replied: “I think the key one of the 45p tax rate – it’s tax burning off more than £150,000 a year and the government wants to cut that from 45p to 40p.”
The government is removing the additional 45 percent rate of Income Tax on annual income above £150,000 from next April.
Reeves added: “We will fight that in parliament because it is not right someone earning £1million a year, already doing incredibly well, will be handed a tax pass worth more than £50,000 by this change the Chancellor announced on Friday. We would reverse that in government.”
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