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December 06, 2005

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Meaders

Fiscal drag?

chris

That's a lot of the story, Meaders - but not all. Isn't it a bit odd that taxes are forecast to take 42.8% of growth, when the top marginal tax rate is 40%?
Part of the story is that pay rises for lower earners will be clawed back by falling tax credits - very egalitarian.

Illyrian

Including national insurance contributions the highest marginal rate of income tax is 50% but there will be consumption tax on top of that.

Barry Ojar

Interesting information

Barry Ojar

Interesting information

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