High-earning head of investment research at financial services company claims high taxes are counterproductive
Mark Dampier earns more than £150,000 a year and is celebrating the fact that his income tax bill will fall from 6 April as the 50% top rate drops to 45%. But the head of investment research for Hargreaves Lansdown reckons the chancellor should ignore the "politics of envy" and cut income tax rates even further.
"The more you put tax up, the more taxpayers try and find ways, legally, to mitigate it. In the last 10 years under Labour and this coalition it is noticeable that people are spending more time on seeking ways to reduce their tax bills, in contrast with the previous time period.
"The more you raise income tax, the more time is spent trying to stop it. A simple relatively low tax regime for all would give far less business to accountants and in the end give more money to the government.
"The problem is politics gets in the way, so at present the politics of envy are all around us. It makes for poor decision-making as it plays to the soundbite and gallery.
"What we need is a government and chancellor with some real guts to centre on reducing taxes and simplifying. Alas, instead we are surrounded by idiots who seem to be financially illiterate and are trapped in a Westminster bubble."
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