Why Britain will have the world's 4th largest top tax rate

Fergus Pickering

That world average is a totally spurious figure, isn't it? what aboutWorld average in the civilised world leaving out tax havens you could spit across?

Dog Snob

Such arrogance, such ignorance, in assuming that those without wealth have played no part in its creation.

Of the top ten in your list, which of them are the spoilers, the punishers of 'wealth creation'? Is Japan anti business? Is Germany an economic basket case?

Perhaps they realise that there is more to life than just pitching up wherever the tax is lowest.

Those Heathrow interlopers? Please do it - go and try out Saudi Arabia. Take you portfolio with you and the best of luck.

Anton Howes

Looks like the rich will have to move to Guernsey and Jersey then! Good thing the G20s efforts to crack down on tax havens pretty much failed.

Fergus Pickering

You don't have to MOVE to Guernsey and Jersey, friend.

Anton Howes

...or rather, a bad thing for us thanks to Darling.

Bluenoser

Whoever compiled this information failed to consider second level income taxes which in Canada raise the top bracket to over 50% in most provinces

Chris Gudgin

"Wealth Creators" - such a prejudiced label.

I'd like to see how much wealth this country would 'create' without the thousands of teachers needed to give these people an education. So many important and essential professions cannot even dream of making it into the top tax bracket.

Everyone plays a part. If salary was linked to effort or aspiration you may have a stronger case. It's not.

Fraser Nelson

FergusPickering, KPMG assessed all civilised countries in the world and produced an average.

Dog Snob, perhaps you have heard of the City of London. It is about 40% immigrant. These are Europeans, Americans and - yes - even Arabs. They can declare tax where they choose. You may think they are villains. But we'll miss their money when they have gone.

Bluenoser, the KPMG study was the top marginal rate of tax at a national level. So yes, it won't have factored in regional rates.

Chris Gudgin, the teachers would be paid vastly more money if they operated in a liberalised system. As it stands, they earn about 50% more than the average wage in 2006 - £33,720. So not a million miles away from what is (now) the top bracket.

Dave B

Canada looks good.

Chris Gudgin

My issue was more with the "Wealth Creators" label. These people (150k+) may be the ones raking in the wealth, but that doesn't mean they're solely responsible for creating it.

Dog Snob

Fraser.

I won't miss a penny. I'll just get up and go to work like I did before they all came here in such numbers.

The idea that we can't survive without them and that we should be grateful to hang on to their coat-tails, is craven and is what has led the nation to such a moribund state of dependency.

What happened to self belief?

Fergus Pickering

Sory, Fraser, I still can't buy it. All the countries I could imagine living in are there ABOVE the average. Where do I have to go to be below? Not counting tax havens, as I said. Oh, and discount all muslim countries. Of course.

Russell Bennetts

Denmark is the happiest nation on the planet. Cameron has, of course, claimed that we should focus more on happiness levels and not just GDP. It is clear that having the highest top tax rate does not prevent the Danes from being the happiest, at the very least anyone has to admit that.

It is fantastic that we are moving towards a similar tax system to the Danes!

No-one can be truly happy in an unequal society.

Eeyore

Big spending governments like Labour love financial services - the 50% is clearly likely to drive some business off-shore - many US Londonners were going to go before the crash. They have clearly decided that raising £200 milllion and the chance to keep a distance from the Tories is more important than the revenue the lost business brings in. Clearly part of the "scorched earth" policy of the PM.

Fargus Pickering

The only Dane I know is a miserable sod.

H. Peter Turner

I would love to pay 28% tax but when all is done in sub-arctic Canada my income taxes work out to 50% so your chart is suspect.

BaiDaLong

There seems to be a complete misunderstanding about tax havens. The whole point of a tax haven is that you don't actually have to LIVE there. My company is based in BVI. I've never even visited BVI and my company effectively lives in a folder in a filing cabinet in a lawyers office. I've never met the lawyer but I pay him $1,00 per year to do my paperwork. That lets me take advantage of the BVI tax rate of sweet FA.

No. I don't pay any tax at all and I'm free to live in any country I choose, including the UK. But I do pay my way in society. My BVI company has over 500 employees around the world. I created these jobs. I hired these people and I write their pay cheques every month. I pay my own way in everything I do. I use private medical insurance and my children were educated privately. I don't use any government services in the UK. But Gordon Brown wants me to hand over 50p out of every pound I earn (not including the 11p in NI contributions and the other 13p in employers NI contributions because I'm self employed). He want 73p in every pound and then 17% of the rest taken in VAT. How is this supposed to entice me back to the UK?

No thanks. The UK needs to learn that it's only one country that is competing for me and others like me to take the risk and set up businesses there. If Britain can't compete then it's out of the game. That's the only tax law that counts.

Major Plonquer

Russel: 'Denmark is the happiest nation on the planet.'

You are utterly barking mad my friend.

jerk

as long as multi billion$ stock gains (losses) are not taxed, nobody has to move to UAE

William Vincent

Do the other countries have an equivalent of NICs? Including these, our top tax rate is 64%, which would make it the highest in the world.

The highest. In the world.

Will the last person out etc etc.

Jason Frank

The US tax rate does not take into account state and local taxes, forced retirement pyramid schemes and is misleading. My last tax bill in California was well over 50%