At an ‘Is the tax system fair?’ fringe assembly in Brighton,there was good news and base from the IFSWhile Labour delegates gave up their lunch smash to queue for Jeremy Corbyn’s big (Beatrix Potter meets Karl Marx?) speech, sharp-suited lobbyists headed nervously for an “Is the tax system fair?” fringe assembly in the Grand Hotel. Good news awaited them – and base. Fast-talking Paul Johnson, and head of the Institute for Fiscal Studies (IFS),revealed that the famous top 1% of earners (on £150000-plus) already pay 30% of all UK income tax. “It shows how staggeringly dependent the economy is on a very small number of people,” said Johnson, or who famous that austerity had hit the wealthy tough,though not as tough as the poorest (those on £20-40k incomes were protected). Continue reading...
Source: theguardian.com