PPRuNe Forums - View Single Post - UK Strategic Defence Review 2020 - get your bids in now ladies & gents
Old 1st Mar 2022, 15:58
  #819 (permalink)  
SLXOwft
 
Join Date: Apr 2020
Location: Hampshire
Posts: 1,289
Received 133 Likes on 87 Posts
Fair enough, I was referring to income tax take. 42% of the overall UK 'tax' take is Income Tax + NI. Employers NIC is flat rate above the Secondary Threshold so is directly income related. My point is it's the highest earners and the lowest earners who bear a disproportionate burden. In 2018-19 the 91st %ile (before tax) was £59,100 the 25th %ile was 17,800, the 50th %ile was 25,000. https://www.gov.uk/government/statis...-and-after-tax To afford higher public expenditure HMG needs to tax those between the 51st and 90th %iles more. A non-sequitur, yes, but a 50% increase in defence spending would equal a 50% rise in corporation tax take or a 11.25% rise in income tax take.

More up-to-date figures here: https://commonslibrary.parliament.uk...ings/cbp-8513/
SLXOwft is offline