Higher tax rate should be applied to all income earned above the national average. Then reduce basic rate massively
Higher rate tax should be introduced to all income earned over the national average salary.
Tied into this the level of the 50p tax rate should be applied to any income earned over three times the national average salary.
The additional income from this would then be used to raise the personal allowance (the amount you earn you don't pay tax on) level to £10,000 and then greatly reduce the basic level of tax.
This would make it possible to achieve a decent standard of living even in low paid jobs and would add an incentive to work rather than live off benefits.
it would add an annual incentive to increase wages across the board so as to improve the national average salary, as this would mean a greater proportion of everyones money earned would go into the lower tax bracket. It would also create a system where upper management would personally benefit from keeping staff wages high.
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