Sunday, 16 November 2014

Top 3,000 earners contribute more than bottom 9m

Government statistics reveal the 3,000 highest paid people in the UK pay more income tax than the bottom 9m. Earners with a declared income above £2.7m will contribute 4.2% of the total government revenue from income tax in the current financial year, while Britain's 9m poorest-paid workers will contribute less than 4% of the total income tax receipt. The figures were disclosed in a Freedom of Information Act request to the journalist Fraser Nelson as part of his research into wealth inequality in Britain. Ryan Bourne, head of public policy at the Institute for Economic Affairs, said: "These figures make a mockery of the idea of a 'zero-zero' economy - where high earners don't pay their way. In fact, they show just how dependent we are on a small number of high earning taxpayers for a large chunk of revenue."
The Sunday Telegraph, 

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