South East Asia News.Org
Thursday 21st May, 2009
UK Prime Minister Gordon Brown has referred to the new tax rate for high earners as a necessary means of addressing the growing deficit.
Speaking to members of the Confederation of British Industry, he was answering comments by CBI president Martin Broughton, who said the new tax on those earning more than £150,000 was "economic vandalism."
Mr Broughton said the government had failed to address the UK's growing budget deficit by not focusing on cut backs to non-essential services.
The prime minister the government already had a 10-year plan to bring public finances back to a sustainable level, with very substantial efficiency savings in the public services.
He said the top rate tax increase was part of the strategy.