Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.George Osborne is pushing the Liberal Democrats to accept a cut in the top rate of income tax from 50p to 40p in next week's Budget.
Mr Osborne is keen to abolish the top rate – brought in under Labour – as a sign to business that the Tories will not penalise "wealth creators". But he realises that in return other taxation measures targeting the wealthy will have to be brought in – possibly the Liberal Democrats' "tycoon tax" – to avoid Labour's charge that the Government is the protector of the super-rich. David Cameron and Nick Clegg, alongside Mr Osborne and Danny Alexander, are due to speak by phone today about the Budget and a final meeting is scheduled for Monday.
No final decisions have yet been taken but the Liberal Democrats acknowledge they will not try to block the 50p reduction. Instead their strategy is to extract as many concessions as possible from the Tories for the move.
A study for the Treasury is expected to show the 50p rate is bringing in hundreds of millions, rather than billions, of pounds.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments