The shared strategy of targeted tax cuts reflects the fact that the Tories have essentially endorsed Labour's decision to make higher public spending the priority over the next three years.

ECONOMIST: Tax cuts

The 77% decline represents the single biggest difference in the way the tax burden is shared in this country since the late 1950s.

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If the payer is in a higher tax bracket than the payee, characterizing payments as alimony can be a win-win, provided the net tax savings are shared.

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