Will you soon be paying less tax? The PM hints some people might

David Cameron has suggested some high earners might be moved out of the top tax bracket.

The Prime Minister said many people earn above £41,865 a year but “don’t see themselves as fundamentally wealthy” and were paying to 40p tax rate.

He hinted that could be about to change, saying he would “love” to raise the level at which people started paying the top tax rate.

More than two million people will have started paying the top tax rate over the course of this Parliament, according to the Institute of Fiscal Studies. It’s now estimated one in six people pay the rate.

Cameron said in his speech to workers at a water company: “I understand the problem with the 40p rate kicking in when people are not earning a lot of money, and I have to look very carefully at the books before I can make any promises about it.”

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Readers' comments (2)

  • I should bloody well think so! A tax designed for the 'rich' remains at a level where, at least in the South, many manual and clerical workers are into a 40% tax rate, plus NI. Even £100k is hardly 'rich' these days. The state is still spending, wasting, far too much of our money..

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  • Jack McLaren-Stewart

    Totally agree Ian!

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