Tax and the top tier

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Tax and the top tierDavid Smith in the Times says the wealthy are “helping to ensure a healthy flow of tax receipts into the Exchequer,” with the Office for Budget Responsibility recently saying that revenues were up because of “particularly strong earnings growth among the highest earners”. Mr Smith says that in 2018/19, the top 1% of earners accounted for 27.9% of all income tax revenues while the top 5% accounted for 48.4%.

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