By contrast, Boris Johnson’s Conservatives had promised to raise the higher-rate income tax threshold drastically from £50,000 to £80,000. Every doctor, every accountant, every solicitor earns more than that.". Labour said it would only raise income tax for those in the top 5 per cent. See story POLITICS Election SouthWest. Infographic PA Graphics PA Graphics, General Election 2019 Labour top targets. They pay nothing on the first £12,500 they earn and 20 per cent on earnings up to £50,000. .css-8h1dth-Link{font-family:ReithSans,Helvetica,Arial,freesans,sans-serif;font-weight:700;-webkit-text-decoration:none;text-decoration:none;color:#FFFFFF;}.css-8h1dth-Link:hover,.css-8h1dth-Link:focus{-webkit-text-decoration:underline;text-decoration:underline;}Read about our approach to external linking. Stamp Duty reform 'could save buyers £4,300' - and see no SDLT to pay for 90% of purchases. The Labourparty said in government it would apply the additional income tax rate of 45% on earnings of £80,000 a year, and a new “super-rich rate” of 50% payable at £125,000 a year. When does 40 percent rate of tax apply? Infographic by PA Graphics. How much you need to be in the top 5 percent (lower end): $174,555. The IFS says that this is currently the highest-income five percent of Income Tax payers, or the highest-income three percent of all adults. Some buyers could get refund, Labour manifesto: The figures suggest what the average annual gross pay is for different percentiles, The SEVEN taxes Labour will bring in to screw the middle classes, Labour manifesto: Angela Rayner was asked about the Labour 2019 manifesto by Andrew Marr on the BBC, Inheritance Tax rates: Expert reveals a ‘useful way of reducing your Inheritance Tax bill'. The region with the lowest average weekly earnings is the North East of England at £531.10, which is 24% or £168 a week lower than the highest earning region, London at £699.20. Infographic PA Graphics PA Graphics, Opinion polls v election result 2015. iPlayerLIVE: Joe Wicks does PE for 24 Hours! See story POLITICS Election. In 2018-19, you needed wealth of around £670,000 per adult - excluding physical possessions - to get into the richest tenth of families. The incident has sparked debate about income inequality and who should pay more towards the country's schools, roads, hospitals and other public services. Infographic by PA Graphics PA Graphics, General election 2019 seats to watch in North-west England. See story POLITICS Drugs. Available for everyone, funded by readers, Study shows gulf in income inequality widening further as result of Covid-19 pandemic, Apple has thrived under Cook’s leadership with the iPhone X and a move into subscription TV, As Amazon thrives under Covid-19, critics say its founder’s wealth – he could buy the UK’s four big banks – is ‘obscene’, Report highlights productivity gap and the need for consistent policies on ‘left behind’ areas. Please continue to respect all commenters and create constructive debates. LIVE: Joe Wicks does PE for 24 Hours! Inside the destruction of Asia's last rainforests, .css-orcmk8-HeadlineContainer{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:justify;-webkit-justify-content:space-between;-ms-flex-pack:justify;justify-content:space-between;}Covid: UK daily cases reach new high of 33,470.css-1dedj2h-Rank{-webkit-align-self:center;-ms-flex-item-align:center;align-self:center;color:#B80000;margin-left:3.125rem;}1, Strictly Come Dancing: Nicola Adams exits after Katya Jones catches Covid2, Belgian anaesthetist jailed for causing Brit's death while drunk3, Covid-19: Largest number of daily cases in UK, and changes to travel corridor4, Manchester University students 'occupy' building in rent protest5, Covid-19 in the UK: How many coronavirus cases are there in your area?6, Stonehenge A303 tunnel plan approved by transport secretary7, Covid: People arriving in UK from mainland Greece will need to isolate8, Coronavirus: Safety officials had 'political' pressure to approve PPE9, Covid-19 restrictions in NI extended for one more week10, .css-vh7bxp-PromoLink:link{color:inherit;}.css-vh7bxp-PromoLink:visited{color:#696969;}.css-vh7bxp-PromoLink:link,.css-vh7bxp-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-vh7bxp-PromoLink:link:hover,.css-vh7bxp-PromoLink:visited:hover,.css-vh7bxp-PromoLink:link:focus,.css-vh7bxp-PromoLink:visited:focus{color:#006DEF;-webkit-text-decoration:underline;text-decoration:underline;}.css-vh7bxp-PromoLink:link::after,.css-vh7bxp-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}Have fun and help change lives. On BBC One’s Question Timeon Thursday night, filmed in Bolton, a man challenged the shadow justice secretary, Richard Burgon, over the party’s assertion that those who earn £80,000 or over are among the top 5% of earners in the country. Infographic PA Graphics PA Graphics, General Election 2019 seats to watch in Wales. People often think of wealth as being held in property and, to an extent, they are correct - at £4.6tn, it represents 36% of total wealth. How can you find out if you're getting equal pay? UK daily Covid cases reach new high of 33,470, Covid: UK daily cases reach new high of 33,470, Strictly Come Dancing: Nicola Adams exits after Katya Jones catches Covid, Belgian anaesthetist jailed for causing Brit's death while drunk, Covid-19: Largest number of daily cases in UK, and changes to travel corridor, Manchester University students 'occupy' building in rent protest. Infographic PA Graphics PA Graphics, Cost of administering polls since 2010. See story POLITICS Election Immigration. South Carolina. Infographic PA graphics PA Graphics, General Election 2019 seats to watch, north-east England. Charlotte Hodges, General Election 2019 seats to watch, south-east England. Total wealth now stands at a record £12.8 trillion, or almost £13 million million. newspaper archive. Read about our approach to external linking. In fact, the share of wealth held by the richest 1% fell for most of the 20th Century, and has been stable ever since. Embargoed to 0001 Wednesday November 6 PA Graphics, People's Vote group revealed its priority list of recommended candidates in key target seats. order back issues and use the historic Daily Express T his would be a record amount of income tax for this section of society, beating the £107bn paid by the top tenth of earners in 2015-16 and up from £106bn in the previous year. Infographic PA Graphics PA Graphics, General election 2019 seats to watch in London See story POLITICS Election London. For chartered accountants the median is £38,805. In the 1960s and 1970s, the UK's collective wealth - the value of our property, pensions and savings - was about three times as big as the UK economy's national output, or GDP. Finding that the top 1% highest earners in the country are overwhelmingly middle-aged men living in London and the south-east, the thintank said the super-rich bunching together could distort their views on wealth. Infographic PA Graphics PA Graphics, Shortest parliamentary sessions since First World War. You can find our Community Guidelines in full here. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. Inside the destruction of Asia's last rainforests, .css-orcmk8-HeadlineContainer{display:-webkit-box;display:-webkit-flex;display:-ms-flexbox;display:flex;-webkit-box-pack:justify;-webkit-justify-content:space-between;-ms-flex-pack:justify;justify-content:space-between;}Covid: UK daily cases reach new high of 33,470.css-1dedj2h-Rank{-webkit-align-self:center;-ms-flex-item-align:center;align-self:center;color:#B80000;margin-left:3.125rem;}1, Strictly Come Dancing: Nicola Adams exits after Katya Jones catches Covid2, Belgian anaesthetist jailed for causing Brit's death while drunk3, Covid-19: Largest number of daily cases in UK, and changes to travel corridor4, Manchester University students 'occupy' building in rent protest5, Covid-19 in the UK: How many coronavirus cases are there in your area?6, Stonehenge A303 tunnel plan approved by transport secretary7, Covid: People arriving in UK from mainland Greece will need to isolate8, Coronavirus: Safety officials had 'political' pressure to approve PPE9, Covid-19 restrictions in NI extended for one more week10, .css-vh7bxp-PromoLink:link{color:inherit;}.css-vh7bxp-PromoLink:visited{color:#696969;}.css-vh7bxp-PromoLink:link,.css-vh7bxp-PromoLink:visited{-webkit-text-decoration:none;text-decoration:none;}.css-vh7bxp-PromoLink:link:hover,.css-vh7bxp-PromoLink:visited:hover,.css-vh7bxp-PromoLink:link:focus,.css-vh7bxp-PromoLink:visited:focus{color:#006DEF;-webkit-text-decoration:underline;text-decoration:underline;}.css-vh7bxp-PromoLink:link::after,.css-vh7bxp-PromoLink:visited::after{content:'';position:absolute;top:0;right:0;bottom:0;left:0;z-index:2;}Have fun and help change lives. Infographic PA Graphics PA Graphics, General Election 2019: Boris Johnson's campaign visits so far. Many are at the end of a career and have had time to accumulate savings, pensions and property.