Quote:
Originally Posted by TheDA
50% income tax now! Since when? It's only 40% at the moment.
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You're right but a new top tier tax rate comes in from April 2010, which is 50%. Add to that national insurance at 12% and higher earners will be paying 62% to the government:
http://news.bbc.co.uk/1/hi/uk_politics/8011321.stm
However, now the government has realised its not enough (mainly because rich tend to get around them) and thus new measures are being considered that will probably aim a broader section of the population.
Both of these measures are not taking into account VAT which is also set to increase!!