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Politics : Politics for Pros- moderated

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To: LindyBill who wrote (282087)	11/25/2008 1:49:02 PM
From: FJB	Read Replies (1) of 793939

High earners face increased National Insurance payments and a new supertax under a raft of measures announced in today's pre-Budget report. By Emma Simon Last Updated: 5:34PM GMT 25 Nov 2008 As widely predicted, Alistair Darling introduced a new top level of tax, which will be imposed on people earning over £150,000 a year. They will pay 45p in the pound, up from 40p, from April 2011. Less anticipated though was the clawback of the personal allowance for higher earners, which will see some taxpayers effectively paying paying 60p in the £1, according to leading accountants. These changes will not just affect the 1pc of taxpayers earning more than £150,000 a year. It will potentially affect 650,000 people earning more than £100,000 a year. To further rub salt into the wound these higher earners will also pay an additional 1pc in National Insurance costs, giving an effective taxation rate of 61pc - a rate not seen since the late 1980s... telegraph.co.uk

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