Top earners to pay £20bn more tax
Figures from the OBR indicate half of all additional income tax collected by the Government by 2021 will be paid by the top 1.5% of earners. Around 469,000 people earning more than £150,000 a year will account for almost £20bn of additional income tax paid to the Treasury, according to the group’s research. The findings have prompted MPs on the Treasury select committee to urge the chancellor to look again at the tax system amid concerns that the burden should be spread more widely.
Source: The Daily Telegraph (02/12/2016)