Tax burden is dangerous

Posted on 25 Nov 2013
Share Blog Post
Tax burden on highest earners has become “dangerous”Government figures show that for the first time the richest workers - estimated as those earning more than £75,300 a year - will pay just over 50% of the income tax collected by the Treasury. Twenty years ago the proportion of income tax paid by the top 5% was 39.6% but is expected to hit 50.1% this year. Prof Philip Booth, senior academic fellow at Institute of Economic Affairs, said: “A highly mobile group of people have become responsible for paying a greater and greater share of the tax take. This is dangerous. The tax base has become too narrow. Allowing a small number of better-off people to shoulder the cost of public services is a risky policy, politically and economically.”

View more blog posts

Warning pre Budget
Posted on 25 Sep 2024
Warning pre Budget
read more
Tax hike fears
Posted on 18 Sep 2024
Tax hike fears
read more
SME confidence bounces back
Posted on 11 Sep 2024
SME confidence bounces back
read more
Non dom tax not the answer
Posted on 09 Sep 2024
Non dom tax not the answer
read more
Back To Top
01604 660661