Tim Focas talks General Election 2019 with FORBES

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.

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