Saturday, 1 August 2009

High Taxes impede entrepreneurial flair

The Taxpayers' Alliance Research Director, Matthew Sinclair and Dr Jonathan Scott, have co-authored a report showing how high taxes impede entrepreneurial flair. Read it here.

The 50% tax rate for high earners is the politics of envy and should not have a place in Britain today. Not only will it be useless - as those affected will use every means at their disposal to legally avoid paying the higher tax rate - it will also stifle aspiration. What is the point of taking risks and building up your own company from scratch, when all the government wants to do is tax you to death?

Especially in this time of recession, we need to keep taxes as low as possible. We need to be able to hit the ground running when the economy starts to recover. We want to be ahead of our competitors. High taxes and mountains of red tape will not assist our recovery; they will impede it.

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