Originally Posted by
Midnight Cruiser
The absurd unfairness is that it drops back down to 45% above £125k.
Before we continue tearing strips off each other about pay, surely this is the nub of the issue, the “hump” one encounters between 100-125k; the point of a progressive tax system is that as you go up the income bands you consistently pay more tax, and the 62% is an aberration that exists as a result of a less than joined up tax policy. To me, retention of the tax free allowance but introduction of a 50% tax bracket would be a far more transparent and consistent system, but that’s a political debate that isn’t really for here.
If it were completely up to me I’d advocate taxing Centrica at the moment.