The government has announced that the 50p tax rate for higher earners in under review after someone said it almost certainly contributed to the recent riots and civil disorder.
The chancellor has asked the Inland Revenue to investigate if there is any way he can justifiably stop asking rich people for more money in a way that somehow links it to preventing future riots.
Osborne’s statement follows the Prime Minister’s assertion that all government policy is currently under review, in an effort to isolate the cause of the recent civil unrest.
David Cameron told reporters, “We have said that we will review all government policy in light of the recent disturbances, but we have to start somewhere – and the 50p tax rate brought in by the last government is as good a place as any.”
“We heard someone mention there had been chanting in Tottenham of ‘lower taxes for our high earners!’ and ‘the current tax regime is making us uncompetitive internationally!’ – so we have to take a look at it.”
50p tax rate ‘under review’
George Osborne went on to further explain the reasons for the review of the 50p tax rate.
“We have sociologists telling us that the only reason these young people were looting is because they felt there was no incentive for them to get a really good job if they were going to lose 50% of everything above £150,000 anyway.”
“Well let me be the first to tell them, do not fear inner-city children, we have every intention of letting you keep a little bit more of that money in future when you get your first £150,000+ job.”