The British conservative parliamentarian opines: "While wishing to lower taxes across the board, we should recognise that
it’s the middle class upon whom the heavy burden of taxation has
increased most dramatically in the last 30 years. The increase in public
spending has been paid for by more and more people, who are not rich,
paying a tax rate originally designed to be paid by the genuinely
wealthy. I do think that it is a matter of concern that, according to
the IFS (Institute for Fiscal Studies), the number of people expected to
pay the 40p [40%] rate is expected to rise from 3.7m in 2011 to 5m in 2014.
In the long term, this could sap the spirit of ambition."
He continues his commentary: "In the tax debate, we tend to focus on both ends of the economic
spectrum. We had a debate about reducing the 50p rate for the highest
earners, and we have pledged to take the very lowest paid out of tax
altogether. It’s the middle layers that often get left out of
consideration, but in most societies, over time, it’s this same middle
class which has been crucial in improving general living standards for
everybody. This isn’t about 'trickle down' economics, where policies favour the
rich and the so-called wealth creators. It’s about recognising the
immense contribution of the middle class to the economic development of a
modern nation."
MP Kwasi Kwarteng: "The Middle Class Are Key To Britain's Economic Future"
