Plan to tax the rich at 26%

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Today Deputy Geoff Southern has lodged a proposition seeking in-principle approval for a higher rate of income tax to be imposed on anyone who earns more than £100,000 a year after allowances and exemptions have been taken into account.He believes that £10m a year can be raised by setting the higher rate.

And he argues this is a fairer move than other tax increases under consideration by Finance and Economics.

He is asking the States to make an in-principle decision for a higher tax rate but is leaving the decision on the level of the increase to Members.

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