BBC News: Reports that the Chancellor of the Exchequer George Osborne has scrapped the high rate tax rate of 50p, the new rate will be 45p in the pound from 2013. This is good news from the Coalition Government, the 50p rate showed that the UK was not interested in business expansion. The Conservatives managed to get this through the Coalition by only taxing people if they start to earn more that nine thousand a year, the Liberal Democrats target is ten thousand pounds a year. Also to put the Labour Party on the back foot the Chancellor announced that that properties that cost millions will get taxed more, thus keeping the Liberal Democrats happy. As with all Budgets its in the details folks, lets see what comes out over the next few days, the budgets of Gordon Brown looked good at first, but less so after the experts had a look at the details published by the UK Treasury.
Wednesday, March 21, 2012
50p Tax Rate - Scrapped
BBC News: Reports that the Chancellor of the Exchequer George Osborne has scrapped the high rate tax rate of 50p, the new rate will be 45p in the pound from 2013. This is good news from the Coalition Government, the 50p rate showed that the UK was not interested in business expansion. The Conservatives managed to get this through the Coalition by only taxing people if they start to earn more that nine thousand a year, the Liberal Democrats target is ten thousand pounds a year. Also to put the Labour Party on the back foot the Chancellor announced that that properties that cost millions will get taxed more, thus keeping the Liberal Democrats happy. As with all Budgets its in the details folks, lets see what comes out over the next few days, the budgets of Gordon Brown looked good at first, but less so after the experts had a look at the details published by the UK Treasury.
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