Cadiz Seagull
Grey bearded old man
Whatever the economic rights or wrongs of the 50% tax rate it will stay for one reason and one reason only.
Political.
Imagine the furore in the press if the Government reduce it. How can they justify reducing tax on the rich when everyone else is suffering etc etc.
I'm not saying it's wrong. It's just one of the realities of life. A government can't simply go ahead and do what it thinks is right, it can only do what it thinks the electorate will put up with, however reluctantly.
Political.
Imagine the furore in the press if the Government reduce it. How can they justify reducing tax on the rich when everyone else is suffering etc etc.
I'm not saying it's wrong. It's just one of the realities of life. A government can't simply go ahead and do what it thinks is right, it can only do what it thinks the electorate will put up with, however reluctantly.