Cut 50 Per Cent Tax Campaign
Published / Last Updated on 06/09/2011
Cut 50 Per Cent Tax Campaign.
Some of the leading economists have written to the Financial Times as part of a campaign to get the 50% tax rate abolished as they believe it is doing lasting damage to the UK economy.
The 50p tax rate was introduced by labour and is paid on earnings above £150,000. Chancellor George Osborne has retained it in his first 2 budgets but has commented in the past that it is only a temporary measure.
According to the economists the UK has one of the highest personal tax regimes in the industrialised world, which makes it less competitive internationally and also makes us less attractive as a destination for both foreign investment and talented workers.