Green party would introduce 60% tax rate

clock

The Green party has announced it will push to increase the top rate of tax to 60p in the pound if it gains influence in the General Election.

Party leader Natalie Bennett claimed the move would bring in an extra £2bn a year for public services. The top rate of tax is paid on incomes over £150,000 a year and currently stands at 45p, after it was cut from 50p by the coalition. Bennett told the BBC: "There's been an undue focus on the deficit and less thought and consideration on the kind of society we need to have. "We're not collecting tax from multinational companies and wealthy individuals that could be paying for the essential public services, and we're seeing so many people in our society struggling." She added tha...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Tax Planning

More than one in five UK adults lack confidence in inheritance planning

More than one in five UK adults lack confidence in inheritance planning

Retirement planning and investments also areas where people lack confidence

Isabel Baxter
clock 20 November 2024 • 1 min read
Advisers face surge in demand as more deaths set to trigger IHT charge

Advisers face surge in demand as more deaths set to trigger IHT charge

Proportion of deaths subject to IHT will rise from 5.1% to 9.5% by 2029/30

Isabel Baxter
clock 14 November 2024 • 2 min read
Evelyn Partners CEO Geddes warns of 'stifling' CGT change impact

Evelyn Partners CEO Geddes warns of 'stifling' CGT change impact

Paul Geddes urges for caution on tax changes

Jen Frost
clock 18 October 2024 • 2 min read