I don't know if Paul Walsh is but if he was then I'd expect him to be saying 43%, 63% or 73%, approximately and if I'm reading HMRC right, rather than 50%, which is exactly equal to a somewhat controversial headline tax rate.
GBP150k is more than I'm getting paid, but then I'm a mere computer geek. I'd expect top executives in large companies (and med-level executives in megacorps) to easily be in that range. I'd be very surprised if my boss^2 wasn't earning more than enough to hit that tax band, and he's in the 6th tier of management (top tier being the CEO). I'm a lowly 8th tier peon :-(
Diageo may only be 1/10th of the size of my company (both in staff and revenues) but that's still pretty large, so I'd expect a fair sized management structure, many of whom would in the tax band.
All the ones he's spoken to personally often enough to remember their names? (With the likely exception of his secretary, assuming that he can remember his secretary's name.)
The 50% headline rate is being used as a scare story by the right-wing media and it has gained a great deal of traction among the expatriate community - who are the most likely source of Paul Walsh's feedback.
The £150k threshold would, of course, catch Walsh and his immediate social circle: you can see why he's somewhat uncritical when he hears these things.
Nevertheless, it's very difficult to persuade a highly-paid technician or professional to come to Britain when they've spent a few years in a low-tax regime. And the 40% band plus NI feels a lot like 50% to anyone earning more than 45k.
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(no subject)
Date: 2010-02-11 04:08 pm (UTC)(no subject)
Date: 2010-02-11 04:30 pm (UTC)(no subject)
Date: 2010-02-11 04:49 pm (UTC)(no subject)
Date: 2010-02-11 07:10 pm (UTC)Diageo may only be 1/10th of the size of my company (both in staff and revenues) but that's still pretty large, so I'd expect a fair sized management structure, many of whom would in the tax band.
(no subject)
Date: 2010-02-11 11:53 pm (UTC)(no subject)
Date: 2010-02-12 08:12 am (UTC)The £150k threshold would, of course, catch Walsh and his immediate social circle: you can see why he's somewhat uncritical when he hears these things.
Nevertheless, it's very difficult to persuade a highly-paid technician or professional to come to Britain when they've spent a few years in a low-tax regime. And the 40% band plus NI feels a lot like 50% to anyone earning more than 45k.