The 1% of earners now pay 29% of the income tax receipts in this country. You have to say that the broadest shoulders are bearing the biggest burdens. Where we go wrong is allowing the crony corporates and super-rich tax avoidance to go largely unpunished.
Our Byzantine tax system was however created by politicians, with many of them trying to create their legacy tax breaks for selected industries. Big business has long cosied up to the three main Westminster parties. The super rich and the corporations of course use these loopholes, as most people would if they were available to them.
I don’t blame them for doing so. Our political class is to blame. Most of our problems link back to government decisions. We need a fairer system of capitalism that favours small and medium-sized businesses.
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