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UK Business Leaders Say Income Tax Hike Would Hurt Economy

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igh-profile business leaders in the U.K. have attacked plans by the country’s main opposition party to reinstate a top rate of income tax if it came to power in 2015.

Twenty-four of the country’s most senior business people warned on Sunday that the plan to re-introduce the 50p top tax rate for those earning over £150,000 ($247, 584) announced at the weekend by Ed Balls — the shadow finance minister in the opposition Labour party – would be a “backward step,” discourage business investment and would lead to job losses.

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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