New stealth tax would hold back London’s growth

Matthew Lesh quoted in The Evening Standard

IEA Head of Public Policy Matthew Lesh has been quoted in the London Evening Standard warning of negative consequences for Londoners if income tax band are not adjusted for inflation in the budget.

Matthew said:

“The freezing of the income tax thresholds is a gigantic tax rise by stealth,

“It means hundreds of thousands of middle-income earners across London facing an ever-higher tax burden. While inflation devalues the real value of our earnings, the tax man is coming in to take a little extra.

“The rising tax burden is making many top-earners reconsider whether London is the right place to call home. The 70-year high tax burden risks slowing the UK’s economic recovery.”

Read the full article here.