So those who are earning more than £150,000 are boo-hoo-ing that they'll have to pay an extra £2,900 per year, in tax. Are they aware that that £2,900 they are paying is the equivalent of 87% just over two million people have to live on?
So will the new 50% tax rate produce the threatened mass exodus of talent from the city of london? Hopefully. Just feel sorry for the next city the talent decide to land on and improve.
The real beneficiaries from this budget are the under 25's and those isa savers who are, or will be 50 by the time october 2009 comes around, and can take advantage of the higher saving levels.
Oh yes and those who buy the gilts and bonds to pay for it.
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