Thought of the day
In Davos another day, and in a meeting of media leaders with David Cameron, I asked him a specific question: would you say now that the conservative party will not increase taxes if they win the next general election? His long answer boils down to a clear: No. This means that on a salary of 100,000 pounds a year I’ll pay the top rate of 50% and additional 30,000 pound a year to maintain my status as non-domiciled. In other words, my tax will be 80%, which is exactly the top rate minus the old benefits under Labour when I first came to reside in London in the late seventies. At least, Michael Foot then looked like a mad professor. British politicians today don’t have that look to justify the crazy tax.