Today\’s Ritchie installment:
Alistair Darling is under pressure to slap a punitive new income tax rate of up to 70 per cent on top earners in a “tax-the-rich” mini-Budget next week, it emerged last night.
Gosh! But put your mind at rest:
This is nonsense: I am certain there is no such plan at all
But what\’s this?
Well, I rather hope that is what the Treasury is thinking in due course – because much of it comes from the Compass tax report –
Ah, yes, that\’s right, the Compass report that insists that we should raise marginal tax rates on the top decile of households to 75%.
So, what we\’ve got is the man who wrote the report calling for 75% marginal tax rates insisting there are no plans or pressures to create marginal tax rates of as high as 70%.
Consistency is so undervalued in today\’s world, don\’t you think?