Stop the 60% income tax rate

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Stop the 60% income tax rate

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Labour introduced a very unfair method of taxation that the Coalition conveniently ignored to reform. From £100,000 of earnings, £1 of personal allowance is lost for every £2 earned, which results in double taxation. With a £10,000 allowance, this means an effective 60% tax band exists in Britain between £100,000 and £120,000. As Allowance is raised, the band is growing. As 40% band is accordingly lowered, the ones in the band are hit by doube whammy. Let's reform this ridiculous double taxation.

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