The 40% tax rate should be reduced to 33% for those earning under £83,000
To encourage people to work harder it is important to allow an incentive, and the 40% tax stifles that incentive by penalising those in society that work hard and try to enhance their family situation. By reducing the rate to 33% it will enable money to be released into the economy by those that generate it not by those that are granted it by benefits. To reduce the tax for those whose Income is below £83,000 will affect the income generators in the country not penalise them as the current taxation rates do, to compensate the tax on earnings of £83,000 and above could be increased to 45% and the 50% rate removed.
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