Revenue from SNP progressive tax regime to rise dramatically upsetting Murdo Fraser

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From that throbbing organ the Greenock Telegraph today, with regard to the top rate:

‘Experts from the Scottish Fiscal Commission (SFC) explained rising earnings are “sucking” more people into the additional rate band – which sees those north of the border earning £150,000 a year or more paying income tax at 46p.  The SFC has forecast the number of Scots in this category is to increase from 14,900 in 2018-19 to 22,000 in 2023-24, a rise of more than 47%. ‘

https://www.greenocktelegraph.co.uk/news/national/17345743.top-rate-taxpayers-forecast-to-increase-almost-50-in-five-years/

Overall, the number of taxpayers is expected to rise from just over 2 500 000 to nearly 2 700 000 and revenue from nearly £11 billion to nearly £14 billion, by 2023-24.

Conservative ‘finance’ spokesman Murdo Fraser has warned:

“This is the sort of thing that drives wealth away, ultimately harming tax receipts and the economy. And all the while, our neighbouring economies with more competitive tax rates will reap the benefits.”

There is, of course, absolutely no evidence for Fraser’s claim. See:

Debunking the Tory idea that Scotland’s progressive taxes will trigger flight of the wealthy

 

 

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4 thoughts on “Revenue from SNP progressive tax regime to rise dramatically upsetting Murdo Fraser

  1. Alan Gordon January 10, 2019 / 3:24 pm

    I might try and get an emailed question, on this tax issue, to the bristled hair loon.

    Liked by 2 people

  2. Gregg B January 13, 2019 / 10:40 am

    Yeah, ‘coz people on £150k a year are going to give that up and move to another country, over a £400 hike in their personal taxes. Doesn’t anybody at The Scotsman et al think this through?

    Like

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