Quote:
Originally Posted by Pierre
The 45% rate is more symbolic than anything else. It doesn't raise that much for the exchequer in the great scheme of things and no body really complains about paying it it which is why it was such a surprise they proposed to get rid of it.
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Yup. It was politically boneheaded, it was entirely self-inflicted.
Their reasoning didn't make much sense either. How many people are really going to move to the U.K, or not move out, because of the 5%? People live here because it's their home, it's a good country to live in, and they want to live in a certain location for the amenities it proves. Anyone who locates because of tax rates are not going to move to a country where it's still relatively high. They'll go to a tax haven. Not to mention that anyone with so much wealth they can pick and choose a country on a whim are likely not getting their wealth via PAYE.