Billionaire Forbes labels UK's 45% tax rate "brain dead" [View All]

[Robbien]

Source: Daily Telegraph

Mr Forbes, the owner of capitalist magazine Forbes, said that the Government's decision to increase the tax for those earning more than £150,000 was the "exact wrong thing to do to revive an economy and signalled the message: 'We don't like success.' "

Mr Forbes said that the Government should have instead boosted the standard rate of tax for those earning up to £70,000.

He added that the Government should have instead looked at reducing tax for the top tier of the population. . .

The billionaire also suggested the need for a drastic cut in the main rate of corporation tax in the UK, from the current rate 28pc to 18pc

Read more: http://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/3568327/Billionaire-Forbes-labels-UKs-45pc-tax-rate-brain-dead.html

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Forbes appears not to be shy about his position on class warfare.