THE TELEGRAPH: Only a small proportion of Britain’s highest-earners pay any income tax, it has been revealed.
Of the hundreds of people thought to be paid more than £10 million a year, only 65 face income tax bills, according to figures obtained under the Freedom of Information Act.
The disclosure came amid heightened concerns about the gulf between rich and poor as one of the UK’s wealthiest men warned it could lead to rioting in the streets.
Sir Ronald Cohen, founder of private equity firm Apax, said that if people are “left behind” in the race to accumulate riches, there could be a repeat of the Paris 2005 riots. Highest-earners pay no income tax (more)
THE TELEGRAPH:
Private equity bosses defend low tax rate
Mark Alexander
