Businesses agree with top earners taxation

Date: 13th May 2009

Britain's small businesses have endorsed the government's decision to increase income taxation by ten per cent for top earners.

A survey by SmallBusiness.co.uk found that 41 per cent of smaller companies agreed that those earning more than £150,000 per annum should be charged more than the present rate.

Chancellor Alistair Darling announced the rise at last month's budget report.

Head of the consultancy TaxResearch.org, Richard Murphy, told SmallBusiness.co.uk: "The government is in a situation where it needs to raise more money - and I'd rather that burden be put on those with lots of money."

He added that the UK's economy was in its current state "because of the actions of the very wealthy", so it seemed justifiable that they be landed with a larger taxation bill.

A research document published by the Chartered Institute of Taxation earlier this month suggested that the government may begin introducing more environmental charges for businesses.