Thursday, November 18, 2004

Tax and the Tories

Part of the Tory tax dream proposal is an interesting appendix showing the point at which the top rate of marginal tax kicks in compared to the average manual wage. However, it also includes the total marginal tax rates for a pile of countries in 2003.

Hungary 68.4%
Germany 64.2%
Denmark 62.3%
Belgium 59.3%
Finland 57.4%
Sweden 56.2%
Norway 55.3%
Netherlands 52.0%
Greece 49.6%
Australia 48.5%
Switzerland 48.2%
France 48.1%
Ireland 48.0%
Japan 47.8%
Luxembourg 47.8%
Portugal 46.6%
Canada 46.4%
Italy 46.1%
Slovak Rep 45.9%
Spain 45.0%
Poland 44.9%
Austria 42.9%
USA 42.9%
Iceland 42.0%
Korea 41.1%

UK 41.0%

Turkey 40.6%
Czech Rep 40.5%
New Zealand 39.0%
Mexico 31.7%

Yup, the marginal rate of tax in the UK (including social security contribution) is less than most of these countries.

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