THE Government says that by reintroducing the 50p top rate of tax it will force wealthy earners to flee these isles for pastures new, leaving others to pick up the shortfall.
So Chancellor George Osborne has decided to peg the top rate of tax at 45p.
For those who think paying 50p in the pound on earnings over £150,000 a year is just a little too harsh, they can always go and take their business to the tax-haven capital of Jersey – best known for the Jersey cow.
At least in Jersey they will feel more at home milking the system.
Stephen Dixon, Redcar.
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