The 50p tax rate is costing the government money by discouraging work and driving high-income earners overseas. In a ranking of the marginal tax rates of the 86 largest economies in the world, Britain comes 83rd, and increasing numbers of businesses and high earners are leaving the country. This paper looks at the international evidence in favour of and against this high rate, and argues that Britain’s growth prospects for the next decade are seriously harmed by it.
via The Adam Smith Institute – The Revenue and Growth Effects of Britain’s High Personal Taxes. You can download the PDF report there.