Tracey Emin threatens to leave UK over tax

Date: 5th October 2009

Tracey Emin could quit the country over the new 50p rate of income tax.

The star artist, famous for works such as My Bed, is unhappy over plans to increase the taxation burden on people earning over £150,000 a year.

In an interview with the Sunday Times newspaper, Emin also said that taxes as a whole were "too high" at the moment.

The 50p rate, to come into effect in April 2010, was announced by chancellor of the exchequer Alistair Darling during this year's Budget speech.

It is hoped that extra revenues generated by the change will help the government to reduce the record deficits that are currently being run up due to the credit crunch and economic downturn.

However, Emin said that the change could prove counterproductive.

"There aren't enough incentives to work hard, and our politicians have put me off. We're paying through the nose for everything," she commented.

"I reckon it [the tax change] would mean me paying about 65p in every pound with tax, National Insurance and so on."

Mr Darling has also announced plans to reduce tax relief on pensions, again for those earning £150,000 or more.