Who locally benefits from the higher tax rate cut, I wonder…
Taxes

Taxes (Photo credit: Tax Credits)

When George Osbourne announced the tax reduction for higher rate tax payers, much was made about how the Tory front bench would benefit from it, in fact there was a call for Mr Osbourne himself to declare if he benefitted himself, though he claimed he earned just under the threshold.  That did raise a number of questions on how, considering he is one of the millionaire elite.  

This has got me thinking, about Gloucestershire itself, it has a wide range of wealth and poverty, but it is largely Tory represented in terms of Parliamentary representation (depending on your view of Lib Dems, you may think it could be all blue 😉 ).

It would be interesting to see just how which of our Gloucestershire MPs personally benefitted from voting for the Tax Cut directly.   Many of them are well-known to have very successful careers in thinks like banking before becoming an MP, though their salaries now will be as an MP and then how ever many external incomes they have retianed, or gained.   However, considering the tax cut was supposed to be offset by the raise in Stamp Duty for the rich, I guess if they are to lead by example and are going to move mansions this year, then we have no cause to complain.

Whats the chances though, of every one of our rich Tory (and Tory-esque) MPs earning just under the tax change threshold, lets face it you don’t make money as a banker or otherwise without knowing how best to declare what you earn.   Maybe they should publish their accounts to see just how selfless their budget voting really is (along with their intention to but a new property).

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One Comment so far:

  1. Nigel Phillips says:

    Listening to Gloucesters M.P. Richard Graham on Radio Glos several weeks ago state that he was not a higher rate taxpayer made one think if he was an M.P. getting paid basic M.P. salary of circa £65K and not be a higher rate taxpayer then he must be claiming some sort of losses to offset on his salary, poor man how can he afford to live? Also the cut in higher rate was not made as a result of treasury or HMRC figures but in effect a guesstimate its economic effect, if they cut tax rates for the lower paid, on a guesstimate this would result in an expanding economy as they purchase more goods and services, due to more lower rate than higher rate taxpayers.

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