Why Maggie had to act
I write remembering the union-controlled Labour Party of the 1970s through which high earners paid top rate tax on earned income of 83% in the pound plus 15% surcharge on investment income, ie 98% in the pound, on rental and savings income.
Also legislation that forced distributions of profits from Private Limited Companies to be taxed as income of the shareholders at the abortive tax rates.
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Hide AdMargaret Thatcher, or any Government, had to change this policy to hopefully bring back to the UK all those that had left by their policies and encourage successful earners to stay. This she and her Government did. That’s my thoughts.
Rest in peace Margaret Thatcher and condolences to her family and friends.
John R Parkin, Beech Avenue, Rotherham.