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What’s really happening: Liz announced to remove the 45% tax bracket for people who earn more than 150K£ a year. This means that roughly 50 billion £ will be mi
by bvoq 4y ago
What’s really happening:
Liz announced to remove the 45% tax bracket for people who earn more than 150K£ a year.
This means that roughly 50 billion £ will be missing from the government.
That money will have to be printed, decreasing the value of the pound.
More pounds -> Less value.
- switch007 4y agoThe removal of the 45% tax bracket isn't the sole contributor to that £45bn/year figure, it's all the tax changes (a funny numerical coincidence though!) "...due to the almost £45 billion a year of tax cuts announced by the Chancellor today" https://ifs.org.uk/articles/mini-budget-response https://ifs.org.uk/articles/mini-budget-response