Amongst the trumpeted government jingoism and press-driven talk of single-minded retribution against the rioters, it quietly transpires that the rumours of a week ago about plans to scrap the 50p tax rate are gaining credence.
In a carefully timed interview, reproduced by the Beeb, chancellor George Osborne sort of ‘revealed’ his intention to get the HMRC to check whether the 50p top rate of income tax represents an efficient means of raising revenue for the government. His confusion on the matter is apparently due to claims by “some economists” [un-named at this stage] that tax avoidance and evasion by the better-off in the country means the rate is raising less income than expected.
What's the matter with the government today? Surely eviction or a spell of national service would soon straighten out these damned tax-evaders!
1 Comments:
Whilst I totally agree that this is just another example of rich millionaires reneging on taxing their millionaire friends an even more important problem is the way the rich are allowed to use tax loopholes to avoid paying tax due. A recent estimate shows that £120 Billion plus is uncollected each year because consecutive UK governments(run by the rich for the rich) have refused to close the loopholes.
I fear that without these changes those currently avoiding Higher rate income tax at 40% will also avoid paying the 50% rate. We must all put pressure on this bunch of greed obsessed millionaires to drag their tax avoiding millionaire mates to pay their taxes. Before this government pontificate about the actions of others in society they should get their own house in order.
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