Clause 1— Charge for 2013-14
I beg to move amendment 1, page 1, line 7, at end add—
‘(1) The Chancellor of the Exchequer shall, within three months of the passing of this Act, publish a report on the additional rate of income tax.
(2) This report shall review the impact upon Exchequer receipts of setting the additional rate to 50 per cent. in tax year 2014-15.
(3) The report shall review what impact reducing the additional rate for 2013-14 will have on the amount of income tax currently paid by those with taxable incomes of
(a) over £150,000 per year; and
(b) over £1,000,000 per year.’.