Laws: the 50 percent rate should be abolished asap

David Laws has penned a robust defence of the coalition’s economic policies for The Guardian. He points out that the big dividing lines in politics are on the economy and then goes onto say:

‘Ed Miliband is betting that economic recovery will be derailed, and while trying to reconcile many divergent views in his party, he has generally taken the position that cuts should be delayed and that high tax rates (including the 50% tax rate) should be retained. Ed is getting all the big economic decisions wrong, and leading his party into an economic policy cul-de-sac.’

What is striking about this passage is Laws’ mention of the 50p rate given that the coalition has yet to set a date for its abolition and has generally shied away from picking a fight over the issue. But it is worth remembering that the Lib Dem leadership fought an internal battle only a few years ago to abolish the party’s commitment to a 50p