article_snippet.sent: Labour and Tory politicians have come to blows over the 45p top tax rate following Chancellor's admission that establishing the threshold was not one of the Government's priorities.
article_snippet.sent: Instead George Osborne says the Conservatives are committed to raising the tax-free personal allowance bracket from £10,000 to £12,500.
article_snippet.sent: Raising 40 per cent tax so that 40 per cent tax only applies to those earning at least £50,000 was also a priority, George Osborne said.
article_snippet.sent: At present anyone earning between £31,866 to £150,000 is taxed at the higher rate. 
article_snippet.sent: £150,000 are taxed at the higher rate of 45 per cent.
article_snippet.sent: But Labour politicians are calling for the amount to be raised to 50 per cent for those in the highest bracket.
article_snippet.sent: Judge our by what our want to do and what our want to do is increase the tax-free personal allowance to £12,500
article_snippet.sent: so people full-time on the minimum wage don't have to pay income tax and millions are better off,' so people full-time on the minimum wage said. '
article_snippet.sent: And when it comes to higher rate taxpayers our priority is increasing the threshold at which you pay that higher rate, the 40p rate, to £50,000.' '
article_snippet.sent: Those are our big tax commitments for the coming parliament.'
highlights_snippet.sent: Instead Chancellor focused on raising the amount of tax-free income to £12,500 .
  
highlights_snippet.sent: Labour plans to impose 50 per cent tax rate on salaries of £150,000 or more .
  
highlights_snippet.sent: The current rate for the top tax bracket is 45p with basic standing at 20p .