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Jimmy Breeze's Library tagged taxation →  View Popular

24 Apr 09

BBC - Peston's Picks: Why tax the rich?

  • What's going on can perhaps be best seen in a bit of analysis by the Institute of Fiscal Studies.



    It points out that if high earners made no attempt to avoid paying the new 50% rate, this new top rate would yield £7bn a year on its own, as opposed to the £7bn actually generated (in the Treasury's view) by all three tax changes.



    But the Treasury believes that the yield from the 50% rate will be just £2.4bn because high earners will adjust their behaviour in ways that mean they avoid incurring all the increased liability.

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