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Rich, Male Londoners Gain Most From UK Tax Bonanza (1)

Sept. 24, 2022, 4:04 PM

Wealthy men living in London and the south of England stand to gain most from the sweeping tax cuts unveiled by Chancellor of the Exchequer Kwasi Kwarteng. These three charts show how.

Kwarteng said a cut in the basic rate of income tax will now take effect in April -- a year earlier than planned. Three quarters of those who don’t earn enough to pay income tax are women, according to the Women’s Budget Group.

It’s a similar story when it comes to abolishing the top 45% tax rate, charged on incomes above £150,000 ($164,000). Around 80% of those ...