MP 'calls for higher taxes for the rich'

News Article - 18 August 2008
Category: Industry

In news that may be of interest to accountants who work with clients to control costs, one MP has suggested higher taxes should be brought in for the very wealthy so that those on middle incomes in the UK do not bear the brunt of the credit crunch.

According to the Telegraph, the health minister Ivan Lewis has suggested that adding an extra 10p in the pound on earnings above £250,000 would bring in an additional £3.5 million a year for the government.

The newspaper claims the Mr Lewis's comments are unusual as MPs do not usually make proposals on tax, especially when they are involved in a completely different area, like health.

Commenting on the health minister's outspokenness, a senior government source told the Telegraph: "If he can't concentrate on his day job, he'll soon find himself without one."

Prior to taking up his current position, Mr Lewis was economic secretary to the treasury.

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