> paying 71% income tax
Do you have a citation for this? I'm interested in how this figure was extracted from where it came.
Do you have a citation for this? I'm interested in how this figure was extracted from where it came.
There's a segment of a few thousand pounds where your marginal tax rate skyrockets because you lose your tax free allowance at that income level.
It's stupid, annoying and has some minor economic effects, but it's very different from a 71% income tax rate.