March 14th, 2014

Quote of the Day

Lord Lawson advises George Osborne…

“If you earn £45,000, you are neither rich nor poor – you are in the middle. You are certainly not rich. No one on £45,000 should be paying a marginal rate of 40 per cent tax.”


5 Comments

  1. 1
    dai puzzled says:

    at what level of income does lawson believe someone should benefit from a GLC mortgage when buying their flat in mayfair?

    Like

  2. 2
    Anonymous says:

    To that 40% should be added NI, making their total tax rate over 50%.

    That’s criminal.

    To cut State spending is imperative – which means raising the pension age – significantly so.

    Had it kept pace with life expectancy, the 65 yo man’s pension age of 1945 would now be 88.

    So the pension age should be raised to 90, w.e.f. 2020.

    Like

    • 3
      PhD says:

      I believe with all taxes taken into account it’s around 61%

      Like

      • 4
        dai puzzled says:

        you are right – both nics must be included – then it is arguable that ‘community charge’ should be included (since the politicos squimed out of calling it a property tax)

        then apply this to basic rate tax and we are at around 40% – this is the going rate and neither public nor politicos are bothered

        Like

  3. 5
    broderick crawford says:

    by 45 thousand you obviously mean per week don t you nige .

    thought for a moment there you meant per year !

    Like


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