I dont believe a word of that oft told tale that wealthy people will leave the country in droves if the 50p tax rate continues. Its a spin....emanating as it does there above from the daily telegraph and whathaveyou, because these guys are preaching to a readership of A B status and telling them what they want to hear...what they like to hear.
Last night on the BBC's Question Time, the head of Sainsbury's was on..their CEO Justin King. A very pleasant fellow... here is a picture..
The question on executive pay reared its ugly head. He was asked what salary he gets...he wasnt sure about answering initially and then did to an audible gasp... £900,000 per year. Figures we can only gasp at!
A number of the audience quizzed the panel as to whether any people are worth that sort of money. Even little old ladies are /were shocked. Not particularly at Mr King's salary but at the complete injustice in society due to the widening and unhealthy pay differentials. Ordinary people are truly shocked at this time like never before.
Some report the other day said if you carry on with the extrapulation based on the previous few years rises..we will be back at Victorian levels of workers/management pay ratio in no time at all when there was shocking injustice. Unbelievable... to think we are drifting back to those pay scales. The have's and most definetely have nots..and ne'er the twain shall meet.
Mr King of course is the acceptable face of higher management. He is running a successful company and in comparison to some, has not gone to dizzy heights of 8 or 9£million a year as some have, and ..this salary outrage often happens in companies that are performing somewhere between poor and/or mediocre. Then the injustice is clear and stupefying, yet they carry on, take a bit of flak for it, but dont essentially care about the flak from you or me. Water of the ducks back.
Mr King is highly unlikely to up sticks and emigrate over taxing levels of 50p. He has endured it so far and is showing no obvious signs of hardship.