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    Marek - no that is wrong, mere theory and your figure arises from the kind of Donald Duck economic thinking that got us into the mess we are in.

    In practise the impact of high tax rates is a reduction in tax revenue. A significantly high proportion of people who fall into the 50p band have an influence over how much they earn. They will be making a judgement on whether it is worth working the extra hours, take that extra risk, go after that extra contract, employ those extra people when they will have over half the reward for doing so robbed by penal taxation - bear in mind that with NI the tax they lose is at 52%.

    The same judgements are made by many people at the 40p tax level and I know at least a dozen people who work to keep below that tax band.

    The most efficient tax system would be a level single tax rate.

    Reg - the answer is to start to properly slash public spending, cuts to the top rates of taxes and accelerate the reduction of business taxes. Plus get rid of the raft of extra employment legislation imposed by the EU and UK government l over the last 14 or so years. There is more but that is a start.

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