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    But Howard what is a 50% income tax if not state intervention, or any other form of penal tax on those who are wealthy

    I equally do not necessarily think it should just be ditched without hard evidence that it will increase the tax take and/or increase economic activity

    The answer is not to seek to penalise those who have it is to find ways to facilitate those who have not to become those who have - better education, training and apprenticeships, business start-up grants, low interest rate loans for SMEs, state guarantee schemes etc.

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