This is a preview. View original post on this site
The Labour government announced one of the most consequential Budgets in decades this past fall. The measures proposed – some of them good and others not so much – will affect the economy and labor market for years.
But there is one major thing that the Labour government did not attempt to fix: The United Kingdom’s atrocious income tax system, especially the insanely high marginal tax rates for certain workers, which are preventing the economy from reaching its full potential. As a reminder, the marginal rate is the tax you pay on the additional pound of employment income you earn.