Twenty high-profile economists have urged the government to drop the top 50p tax rate, which they say is doing “lasting damage” to the UK economy.
In a letter to the Financial Times, they say it should be axed “at the earliest opportunity” to boost growth.
What, it comes as a shock that the government taking over 60p on the pound (when you take income tax and national insurance) encourages people to make sure that as many of their pounds as possible stay away from the government?
It’s bad enough that people have to work Monday, Tuesday and a bit of Wednesday entirely for the benefit of the state; making them work the first hour of Thursday as well isn’t going to make people come here, is it?