Prime Minister David Cameron made comments in a radio interview on Friday indicating that he has no inclination to support scrapping the 50 percent income tax bracket, as has been called for by some business leaders and others who say that cutting taxes on the wealthiest Britons will stimulate economic growth. The remarks came after [...]
A group of 20 economists have signed a letter calling for the UK’s 50 percent income tax rate on top earners to be scrapped because it is, they say, damaging the nation’s economy. The letter claims that the rate, which is charged to those who earn over £150,000 per year, punishes entrepreneurship, and the signatories [...]
British taxpayers pay more to the government than taxpayers in almost all of twenty major economies, according to a new report from chartered accountants UHY Hacker Young, whether they are among the highest earners or the lowest-paid workers. Those who earn more than £120,000 annually in Britain end up taking home just 60.9 percent of [...]
