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As we await the deluge of New Year trading statements from the retail sector there are concerns that Marks & Spencer will deliver a downbeat report on the Christmas and New Year period. There...
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Thursday 17th July 2008
It seems as though there is a growing call for an increase in the higher rate of tax from 40% to 50%, hitting those with annual incomes in excess of £100,000. In what many are claiming to be a call back to the Labour movement, the Unions and a number of MPs will step up demands for a change at the next party policy meeting. Challenged on the claim Gordon Brown was cool on the idea suggesting that it was not something under consideration at this time.
However, many experts are of the opinion that this move would be counter productive for Labour with the risk of alienating a massive pool of potential voters at a time when the government needs all of the support which it can muster. The idea seems to be that those better off should be in someway levied extra taxation to help those who are struggling, never mind the fact that taxes in the UK are already among the highest in the world.
Whole it would be political suicide to make such changes, Gordon Brown has been boxed into something of a corner with traditional Labour supporters demanding that the rich pay more to support the poor. |
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