Income Tax
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I know it is not the Party’s case about the tax burden but here is a interesting bit of data
“…In total we paid £174bn income tax in 2016-17, the latest year for which figures are available. But of that, £52.5bn – nearly a third of all tax raised – was paid by the 381,000 taxpayers who earn more than £150,000 a year. The tax paid by those 381,000 individuals (overwhelmingly male) was more than all the income tax paid by the first 20 million taxpayers.
In London, the picture is even more stark. The city has 4.2 million income tax payers, but just 87,000 individuals earning over £200,000 a year paid nearly half the £43.8bn income tax raised in the capital….”“…The great triumph of the rich is that they have persuaded the average person to vote against taxes on wealth, such as inheritance tax, and taxes on property – such as a land valuation tax or even a properly progressive council tax. A £17m mansion in Mayfair comes with a ludicrously low maximum council tax bill of £1,376.”
“…In the same year that those bottom 20 million taxpayers paid £50bn in income tax, the net wealth of the UK rose by nearly half a trillion pounds, yet almost none of that gain was taxed.”
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