The great 50p distraction - Budget 2012

Written by Richard Murphy Saturday, 17 March 2012 17:28
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Rows over the 50p tax rate are a major distraction from what should really be the focus in the forthcoming Budget: how to create more jobs says Richard Murphy, author of The Courageous State

The Budget is soon.

The big issue according to the press is whether or not the 50p tax rate survives, or is replaced by some form of mansion or wealth tax. It is quite extraordinary that at a time when 20% of young people in the UK are unemployed, almost 2.7 million people in total are out of work and over 6 million are underemployed that the tax rate of the top 1% of income owners in the UK is the subject of so much attention.

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