Change the 40% tax bracket to 30%

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Change the 40% tax bracket to 30%

Petition Details

How can it be right that someone earning £50,000 be taxed 40% and someone earning £150,000 only be taxed an extra 5% (45%)? There is a huge difference between £50,000 and £150,000 but the current tax brackets do not reflect this. The jump between 20% and 40% is too great.

Additional Information

There should be an intermediate rate of 30% at £50,000 and the 40% should be increased up to £80-£100,000 to target high earners. With the house prices and living costs in London nowadays earning £50,000 gets you a very average standard of living, but the tax bracket doesn’t reflect this. This new tax bracket would put money back into the pockets of the middle class and would actually end up generating more tax as people would be more willing to work into this 30% tax bracket.

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