Osborne Seeks to End 50% Tax Spat With Pledge to Aid U.K. Poor

Chancellor of the Exchequer George Osborne sought to calm speculation over whether he will scrap Britain’s top income-tax rate by promising to use his budget this week to help lower-income workers.

Pledging “extremely aggressive” measures to stop tax evasion, particularly on property transactions, Osborne said yesterday that the March 21 annual budget will include changes “for lifting low-income people out of tax.” He said a decision was made last week on whether to cut or abolish the 50 percent tax rate on earnings above 150,000 pounds ($238,000), without saying what it was.