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Mail chauvinism
Jul 2, 2008, 05:52 AM
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Daniel
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Jul 2, 2008, 05:52 AM
The Daily Mail just can't stop churning out fodder for this blog.
Middle England's fountainhead of truth and progressive-thinking today appears to be blaming the recent 10p debacle on the fact that the number of 'workers' (i.e. taxpayers) in the higher income tax band has 'doubled' since Labour came to power.
According to the latest HMRC statistics, in the 1997-1998 tax year there were 2,120,000 people in the 40% band, while in 2008-2009 there will be an estimated 3,960,000: an estimated rise of 1,840,000 (which is 280,000 - more than a quarter-million - short of 2,120,000).
Given the Mail's usual dedication to accuracy and objectivity, it's surprising that the paper doesn't also report on new Revenue data showing that between the same dates as above, the number of individual taxpayers in the UK increased from 26,200,000 to approximately 31,000,000: a rise of 4,800,000.
So, in 1997-1998 8.1% of taxpayers were being charged the higher rate, while at the end of the current tax year an estimated 12.8% of people will be paying 40% income tax.
That's a rise of just 4.7%.
Over 12 years.
Well worth a story in a national newspaper, I reckon.
To return to Taxation.co.uk, click here.
Middle England's fountainhead of truth and progressive-thinking today appears to be blaming the recent 10p debacle on the fact that the number of 'workers' (i.e. taxpayers) in the higher income tax band has 'doubled' since Labour came to power.
According to the latest HMRC statistics, in the 1997-1998 tax year there were 2,120,000 people in the 40% band, while in 2008-2009 there will be an estimated 3,960,000: an estimated rise of 1,840,000 (which is 280,000 - more than a quarter-million - short of 2,120,000).
Given the Mail's usual dedication to accuracy and objectivity, it's surprising that the paper doesn't also report on new Revenue data showing that between the same dates as above, the number of individual taxpayers in the UK increased from 26,200,000 to approximately 31,000,000: a rise of 4,800,000.
So, in 1997-1998 8.1% of taxpayers were being charged the higher rate, while at the end of the current tax year an estimated 12.8% of people will be paying 40% income tax.
That's a rise of just 4.7%.
Over 12 years.
Well worth a story in a national newspaper, I reckon.
To return to Taxation.co.uk, click here.
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