50p tax
Fiction
George Osborne said: “The 50p rate of tax is going because it wasn’t working.”
Fact
It would have if it had been allowed to continue. Large companies brought forward dividend payments so high earners could avoid paying the 50p rate.
Tax avoidance of
this sort, which is legal but immoral costs our economy £25 billion every year.
We Say
Reinstate the 50p tax rate;
and stamp out tax avoidance.
