UK Change Tax Bands
I strongly believe that the UK tax bands are way out of date.
The fact you are taxed at 40% earning over £50k and 60% over £100k
For a single household even £100k salary is not luxury it gives you enough to save for future and retirement but leaves very little for day to day living, house repairs etc.
I feel low in tax bands which encourage people to work more and keep money in the UK.
20% tax bracket up to 100k
40% tax bracket after 100k
in some countries, everyone gets tax 40% but university is free high employment good security healthcare transport and the have high wages
salaries in the UK are very low as we have such a high immigration workforce
the allowances and thresholds have not kept up with wages, housing, food, childcare, energy, or the reality of being single and self-funding everything.
perhaps 20% up to £120k
then 40% after that
thoughts?