Closed petition Apply fair taxation to rich and poor alike

Closed on 11 July 2013

The persons signing below feel it is inconsistent for the government to say we must all (rich and poor alike) tighten our belts to reduce the deficit but then reduce the higher rate tax from 50% to 45% meaning the most wealthy gain by reduced taxation. Someone earning £1m pa will benefit by approx. £40k of tax reduction yet someone earning around £40k pa will actually lose (due to reductions in the banding at that income level). We want the government to change the budget accordingly - i.e. return the higher rate tax to 50% as a minimum.