Monday, November 24, 2008

What the 45p rate will buy

So, 45p income tax on the super rich in 2011. The government estimates it will raise £670 million a year. For the super rich community, that is the equivalent of 10 yachts or two football clubs. Hardly going to be noticed by them.

Meanwhile, Darling plans to sting the lower and middle income people for a National Insurance rise that will raise considerably more than the 45p rate.

Perhaps this is not New Old Labour after all.

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1 comment:

Richard Gadsden said...

By their own numbers, the NIC increase raises five and a half times what the supertax raises