Welcome to Laura's Home on the Web
Facebook Twitter
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
Del.icio.us Facebook Fark Furl
Google Newsvine Reddit Yahoo
<< Back to Need to Know
Freedom Czar Polo On Sale!
Everything $5 or $10!
$10.00
Guest Archives
Col. Ed Shames - Service in Easy Company, 2nd Battalion, 506th Parachute Infantry Regiment in the 101st Airborne Division, United States Army during the World War II
Jim Roberts - President of the American Studies Center/Founder of Radio America
Carly Fiorina - Served as chief executive officer of Hewlett-Packard from 1999 to 2005
Michelle Malkin - American conservative blogger
Ingraham: After Media Drought Hillary Responds With Vague Answers
Carly Fiorina: Our Republican Nominee Has to Hold Hillary Accountable, It Is a vital To Have A Nominee That Will Throw the Punches
ISIS seizes Ramadi, releases prison inmates
More Videos of the Day
Laura 365
Laura 365 Conservative Book Club
Home | Charity | Store | About Laura | Action Alerts! | Video Extra | Laura 365 | Contact Us | Help | Site Directory
Copyright 2002-2015 LauraIngraham.com. All rights reserved.
Terms & Conditions | Privacy Policy | Acknowledgments
This site is Created and Managed by Nox Solutions LLC.