Replace all Income Tax bands with a 10% rate for all, regardless of income
Having 40 and 50% Income Tax rates can often be a deterrent to success, hard work, and staying in the UK, examples being Sir Alan Sugar and Phil Colins. Each time the very wealthy leave the UK, we loose their
Income Tax, not to mention the VAT they would be paying on consumer goods.
By charging everybody a 10% rate of Income Tax, we would have a fairer system that would not deter people from taking promotions, or encourage them to engage in tax avoidance schemes.
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