Two-thirds of millionaires left Britain to avoid 50p tax rateAlmost two-thirds of the country’s million-pound earners disappeared from Britain after the introduction of the 50p top rate of tax, figures have disclosed.
By Robert Winnett
Nov. 29, 2012
1.Trump is Right: GOP Debate Audience is Packed Full of Republican Donors
2.Government Agents Hunt Woman Down After Seeing Facebook Picture Of Her Rehabilitating Baby Squirrels
3.Florida Cops Unload On Man Holding Gun Fearing Home Invasion After Knock On Door At 1AM, Had Wrong House
4.VIDEO: Americans Express Support When Told Obama Had 'Launched A Preemptive Nuclear Strike On Russia'
5.Mandatory Mental Illness Screening and The Drive to Confiscate Firearms
6.Three Reasons to Be Worried About The Economy
7.Miami Police Retaliate Against Female Driver Who Filmed Herself Pulling Over Cop
8.Trump On Debate Audience: "They Gave Me 20 Tickets"
In the 2009-10 tax year, more than 16,000 people declared an annual income of more than £1 million to HM Revenue and Customs.
This number fell to just 6,000 after Gordon Brown introduced the new 50p top rate of income tax shortly before the last general election.
The figures have been seized upon by the Conservatives to claim that increasing the highest rate of tax actually led to a loss in revenues for the Government.