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Darling says “no science” behind £150,000 tax threshold

Chancellor Alistair Darling has admitted that there is no scientific reason for setting the higher rate tax threshold at £150,000 and says this level was chosen simply on his own judgement.

Speaking before the Treasury select committee today, he said: “There was no science behind it. It was simply my judgement that I thought it was an appropriate figure.

“It’s the top 1 per cent of earners in this country and I decided that was the right level at which to pitch it. Indeed when we were talking about the 45 per cent rate, you remember that was attached to the £150,000 level as well.”

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