British finance minister George Osborne cut personal income taxes but aimed new levies on the wealthy on Wednesday, taking a political gamble while pledging to stick to his government's tough austerity plan. He also said that Britain's economy was improving, although growth is set to remain very modest this year. In a move that will please his own Conservative party, he cut a 50 percent income tax band for the highest earners to 45 percent, from next year on. The Conservatives say that high a levy is a barrier to aspiration. The Labour opposition say it is a fair way to spread the pain. In a nod to the Liberal ... (full story)