Saturday, 22 May 2010

50% Tax Rate

It seems that our new government are looking again at the new 50% tax rate.

The real question seems to be, If the result of the new tax band is a loss to the exchequer, should it be removed, thus not making it worth moving abroad or working out complicated systems of tax avoidance?

Or is our tax system to be used as a tool to punish success?

1 comment:

James Maskell said...

That would be easy to do were we not suffering from a deficit crisis such as we have. As Liam Byrne admitted, theres no money in the coffers and the Civil Service had to demand letters confirming spending plans in the build up to the election, thanks to Labour's 'scorched earth' policy.

For sure taxes should be cut, especially if it harms Britains economic strength, but each thing in its own time.