This morning, the HMRC released data showing that 6.1 million people – equivalent to one in six adults – now pay at a rate of 40 percent, up from 4.2 million in 2019. That includes 629,000 who pay the highest level of income tax – 45 percent profits over .000 150,000 – from 421,000 in 2019-2020. It will add to the concern of Tory lawmakers that the Conservatives’ reputation as a low-tax party is under threat. More people were tempted to pay the higher rate due to the decision of Rishi Sunak, the chancellor, to freeze the personal income tax allowance and
