Laura 1 by 1
Please note that passwords are case sensitive. Please make sure you are typing your password in exactly as you created it.
First time here?
Trouble Logging in?
Forgot your password?
Need to Know
November 28, 2012
Two-thirds of millionaires left Britain to avoid 50% tax rate
Posted by Staff
The Telegraph reports:
In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.
This number fell to just 6,000 after Gordon Brown introduced the new 50% top rate of income tax shortly before the last general election.
The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.
It is believed that rich Britons moved abroad or took steps to avoid paying the new levy by reducing their taxable incomes.
George Osborne, the Chancellor, announced in the Budget earlier this year that the 50% top rate will be reduced to 45% from next April.
11/28/12 6:16 AM
Discuss This Entry
<< Back to Need to Know
High quality t-shirt with Blame Obama logo on the front.
, Fox News White House Correspondent
, Health and Fitness Expert
, president, American Veterans Center
Pres. of the American Veterans Center, James Roberts, talks about the upcoming Memorial Day parade
Ayaan Hirsi Ali warns of the threat of "multiculturalism"
Carlos is worried about increasing govt. control
Rob says Reince Priebus is a whiner
Ed Henry addresses the scandals currently burying the WH
Ari Fleischer argues with Laura about the AP scandal rocking DOJ and the WH
Obama parties at White House with Carole King, Gloria Estefan, James Taylor...
More Videos of the Day
Laura 1 by 1
Copyright © 2002-2013 LauraIngraham.com. All rights reserved.
Terms & Conditions
This site is Created and Managed by
Nox Solutions LLC.