Parliament Street’s Director of Financial Services, Tim Focas was interviewed by Forbes today. He spoke with the respected business publication about how the re-election of Boris Johnson was important for keeping wealth in the country.
The relevant extract from the article is below:
Tim Focas, director of financial services at Westminster think tank Parliament Street, tells Forbes that billionaire-bashing rhetoric failed the Labour party—for the better of the U.K. economy, saying:
“The highest earners currently contribute a significant chunk of all income tax revenues. The top 0.1% pay over a third of the entire income tax take that goes into the treasury coffers. While this only equates to roughly 31,000 people, even if just a few thousand head to Singapore, then the UK tax base vanishes overnight leaving hitting the funding of day-to-day spending as a result.”
You can read the whole article online here.
