What is the emergency tax rate in the uk?

UK: Should the conservatives scrap the 50% top rate tax?

• This is an English question not US as some ppl mistake Conservative for Republicans. Theres talk of the Conservatives srapping the 50% tax rate saying it is anti competitve and doesnt raise much - last I heard think it was around £2 Billion still a tidy sum. If this top rate tax is scraped is that fair; are the richer in society paying their way ? The same old chestnut about the entreprenuers leaving the country if this tax continues and that these same ppl create jobs with their compainies. Ok this may be partly true and lets not forget some wealthy politicians will also benefit from removal of this tax again is this fair ? If the Cons do go ahead would this mean they are going soft on the rich ? It has been said many times that under capitlism wealth - eventually - spreads down to the poorest in society - yet I am to be convinced of this. So that first argument for the removal of this tax is lame. When you become sooper rich the only goals in life are to become even richer double, quadruple what you already have. So is it morally right the rich in society pay their way. If society deems some members getting an easier ride regarding tax will more riots as weve recently scene in London/UK happen again as the average person protests at the inequality ? Not everyone involved in the riots were illiterate un-educated benefit claimants as some media would have you believe some were from well to do families. I think there are principles at steak here.

• Answer:

  George Osborne has commissioned an independent study to determine just how much the 50% tax raises (bearing in mind that only income which exceeds £150K after other tax is liable), and what economic implications there might be in a) keeping it and b) scrapping it. Only after that study is completed will a decision be made.