If we want to keep providing the current level of health, education and welfare services to the rest of the population we have to ensure we have enough wealthy taxpayers. Whether we like it or not, the UK relies very heavily on the taxes paid by the top 1.7 per cent of earners. The UK relies very heavily on the taxes paid by the top 1.7 per cent of earners Opposition politicians and the British media have misrepresented the reality of tax in this country, and failed to understand the central importance of high-earners to the UK economy, and the balance sheet of the treasury.
Today, only days after proposing the change, he was apologising and announcing a U-turn.
When Chancellor Kwasi Kwarteng announced the scrapping of the 45p tax rate, it provoked a storm of criticism.
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