A spark of redistribution from Labour at last - top income tax rate to be 50%

[muriel_volestrangler]

for earnings over £150,000 - just announced in the Budget. I hadn't heard that predicted anywhere. Good, I think - we'll need to pay for things somehow.

[T_i_B]

1. I'm sure the devil will be in the detail

So here's a link that may be of some use.

http://news.bbc.co.uk/1/hi/business/8012222.stm

[emad]

2. Tony Blair opposes new 50 pence tax rate for high earners

Tony Blair believes the new 50 per cent top rate of income tax introduced by Gordon Brown is a "terrible mistake", the Daily Telegraph has learned.

The former Prime Minister has privately expressed his despair at the Labour government's decision to target the wealthy in the Budget.

Some of the leading architects of New Labour have also savaged the move, which they believe has cost Labour any hope of winning the general election.

The revelation that Mr Blair has privately indicated his opposition to the headline 50 pence tax rate for people earning over £150,000 will cause consternation in Downing Street.

http://www.telegraph.co.uk/finance/financetopics/budget/5216307/Tony-Blair-opposes-new-50-pence-tax-rate-for-high-earners.html


That £3 million p.a. JP Morgan sinecure crushed by a 25% cut with Gordo's tax hike, hehe.

Serves the old bastard right.