http://www.bbc.co.uk/news/business-18137548 - A single 30% rate of income tax is needed in order to boost growth in the UK, a report by lobbying groups says. The 2020 Tax Commission's report also calls for the abolition of national insurance, and for the basic personal allowance to be raised to £10,000.
I know tax conversations can be a bit spikey on STW; my thoughts are that this would be a good thing. If I'm understanding it correctly, under the proposals, lower wage earners would pay less tax, and the "rich" would have less need to find ways to avoid tax - hopefully leading to a larger overall tax harvest, which helps us all.
(I've always thought that the 40% bracket threshold in the UK is set far too low, and the 50% bracket is preposterous).