higherrate on Birmingham Dailyhttps://birminghamdaily.co.uk/tags/higherrate/Recent content in higherrate on Birmingham DailyHugo -- gohugo.ioen-usThu, 02 Jul 2026 05:13:21 +0000Andy Burnham Signals Possible Introduction of 50% Income Tax Rate for High Earnershttps://birminghamdaily.co.uk/andy-burnham-signals-possible-introduction-of-50-income-tax-rate-for-high-earners/Thu, 02 Jul 2026 05:13:21 +0000https://birminghamdaily.co.uk/andy-burnham-signals-possible-introduction-of-50-income-tax-rate-for-high-earners/Andy Burnham, the Labour Party’s prospective Prime Minister, has hinted at the introduction of a new 50% income tax rate for individuals earning over £125,140 annually. This new rate could replace the current 45% higher rate, affecting high-income earners. According to Blick Rothenburg’s Nimesh Shah, someone earning £150,000 could face an additional £1,250 in income tax each year under the proposed rate. Shah notes that, technically, this move would break Labour’s previous manifesto promise not to raise income tax, National Insurance Contributions (NIC), or VAT.