The Scottish Government, led by the SNP, has announced a new tax band of 45% for individuals earning between £75,000 and £125,140 a year. This move is part of a plan to raise an estimated £1.5 billion in additional funds to address a budget shortfall. The higher rate income tax threshold is also expected to be frozen, generating extra funds. The new tax band means Scotland will have six income tax bands, while the rest of the UK has three. The decision has sparked criticism and debate, with concerns raised about the impact on high earners and the overall tax burden in Scotland.
Horrifying stat from Reddit - on the SNP's new tax bands, if you went to Uni in England and then get a job in Scotland earning over £100,000, your marginal top rate of tax is 78.5% For postgrads that goes up to 84.5% https://t.co/z1icUmAsZ3
'Tax sting' and cuts backlash after Scottish Budget https://t.co/LJJEud0yEM
The SNP’s combination of high taxes and low growth is sending a negative message to the world, writes @chrisdeerin. https://t.co/wHYcdN7C1M
Scotland announces new 45% income tax band for high earners https://t.co/pRs0yeZ07U
Today’s SNP budget made Scotland look closed for business, writes @chrisdeerin. https://t.co/wHYcdN7C1M
A new tax band of 45p in the pound will be created in Scotland, the Deputy First Minister has announced https://t.co/qthhy8K4Ht
A new tax threshold has been created for high earners in Scotland. @ShonaRobison discusses the new budget and says "we had to prioritise the spend", so "difficult decisions" had to be made elsewhere. https://t.co/PAiZ4D1jU3 📺 Sky 501, Virgin 602, Freeview 233 and YouTube https://t.co/2hHVTATmDi
The Tories have presided over the highest tax burden on working people in 80 years during the worst cost of living crisis in generations and the SNP response “hold my beer”. They can spin all they want but it won’t hide the figures on pretty much every payslip. Pay more, get less https://t.co/aFrBF706iv
The Scottish state is in a dreadful place. This is what happens when you make unfunded commitments and put newspaper headlines before good policy. The result is Scots having to pay for it with the highest tax burden since my grandparents were born.
Crikey... 💥 Even the Scottish Fiscal Commission thinks that £45 million of the potential £53 million raised from an additional 1p on the top rate of income #tax will be lost in the first year due to behavioural changes (and the % lost will increase over time). #ScottishBudget https://t.co/4CmRtlM49J
Scotland now has six bands of income tax after a new bracket for high-earners was announced in the Budget. https://t.co/yFVgFF447f https://t.co/VY78TNDyan
Scottish income tax 2024-25 - What might you be paying? https://t.co/DGbKjmrkXp
"Shona Robison’s Budget was the most disastrous in the history of devolution and the SNP only have themselves to blame." Hard to disagree. https://t.co/Ca3OsPZBMd
Scots earning between £100k and £125k will now face a marginal tax rate of 69.5%. https://t.co/IQrP4FOrYq
💰 Scotland’s middle classes are to be forced to pay hundreds of pounds more income tax next year. How much more income tax would you be paying in Scotland? Use our tool to find out 👇 https://t.co/8XrmlSi07j
Thousands of people face income tax hike in Scotland as SNP creates new tax band for those earning over £75,000 https://t.co/2MATXAsdzp
Factor in the loss of the personal allowance and Scots earning between £100k and £125k will pay a marginal rate of 67%, meaning £2 out of every £3 earned in that range will go to the state https://t.co/H6Ec4kbpRC
Scotland’s new 6-band income tax system… just announced by Scottish finance minister Robison starter rate, basic rate, intermediate rate, higher rate top rate… the 45p rate starts at £75k in Scotland (45p rate elsewhere in kicks in at £125k). Divergence. https://t.co/eBrrCjkEij
One point in favour of Scottish independence is how different Scottish voters are to other British ones. A 45p tax rate on people earning £75k would be quite unpopular in, say, England. https://t.co/2chawlXHxq
🚨 BREAKING: A new tax band of 45p in the pound will be created in Scotland, the Deputy First Minister has announced. Shona Robison said in her Budget statement at Holyrood on Tuesday that the 'advanced' band will apply to those earning between £75,000 and £125,140. https://t.co/wF1jLntpKq
Scotland plans to increase taxes on higher earners to raise an estimated £1.5 billion and plug a hole in its budget https://t.co/e7CF1a0evH
Thousands of Scots face income tax hike as SNP introduce new 45p 'advanced rate' and put a penny on the top band as Humza Yousaf's government scrambles to fill £1.5billion hole in spending plans https://t.co/EwZBZ44WW9 https://t.co/t80RSmFkod
BREAKING: Scotland announces new income tax bracket. Anyone who earns more than £75,000 will pay a rate of 45%. https://t.co/T5sw9mkmVv 📺 Sky 501, Virgin 602, Freeview 233 and YouTube https://t.co/feDKKNndin
Scotland plans to raise taxes further for higher earners https://t.co/MEArj6h6DW via @alastair_reed https://t.co/oAqleA00GW
I’ve sat through some pretty dire @scotgov Budgets in the last 16 years from successive SNP Finance Secretaries, but my goodness today’s was by some margin the worst #ScotBudget
Scotland plans to increase taxes on higher earners to raise an estimated £1.5 billion and plug a hole in its budget https://t.co/r0JdBdWpSn
So, the Scots now have starter, basic, intermediate, higher, advanced and additional rates of income tax.
SNP government introduces new higher income tax band for people earning between £75,000 and £125,000/year. They will face a marginal tax rate of 45% above £75,000, which in reality means 47%, taking upper earnings national insurance into account. So almost half of every pay rise…
Scotland now has SEVEN different tax rates...after SNP announces new tax band of 45% for those on £75,000 to £125,140 a year https://t.co/5Uczi0dDYR
This appalling budget is an admission of utter failure from the SNP. Couldn't run a bath. Can't run a devolved govt. Can never be allowed to run an independent country. Next year, in the election, we can signal the beginning of the end for this failed Nationalist experiment.
NEW: Scottish government to create a new tax band. Finance Secretary Shona Robison has announced that from the next financial year there will be a new 45% rate for people earning £75,000-£125,140. Changes mean Scotland will have six income tax bands, rest of UK has three.
SNP announces new tax band in Scotland of 45% for those earning between £75,000 and £125,140 a year https://t.co/6jHSmpb91t
New tax band to be created for higher earners in Scotland, Scottish government announces https://t.co/egOWHuMc28
SNP announces new tax band of 45% for those on £75,000 to £125,140 a year - @jitjoshi reports https://t.co/5Uczi0ebOp https://t.co/qEXhEOKh1a
So the SNP have just hiked taxes. Remember when they told Scotland they’d be rich independent through oil (which they now oppose) and a competitive economy (which they now oppose)?
#Breaking A new tax bracket of 45p in the pound for those earning between £75,000 and £125,140 a year has been announced by Scotland’s Deputy First Minister Shona Robison in her Budget statement https://t.co/UWXqUXyWQz
Anti aspiration. Anti business. Anti growth. Anti success. Welcome to SNP Scotland. New tax band announced for higher earners https://t.co/c2ZeKGxK6V via @BBCNews
New income tax band for higher earners in Scotland https://t.co/80DEOgF53r
🚨EXC: The higher rate income tax threshold is expected to be frozen by the Scottish Government in its Budget today. It is not believed the £43,663 threshold will rise in line with inflation, generating extra funds for the SG. https://t.co/FxzbUH2FHN https://t.co/FxzbUH2FHN
SNP budget dogged by row with UK minister over 'false' claims - @jitjoshi with all the details https://t.co/5Uczi0dDYR https://t.co/JBd3fR8WO7
✍️ 'Scotland is becoming a high tax nightmare under the vengeful SNP' | Writes @MrTCHarris Read the full comment piece here ⤵️ https://t.co/o4hCm3oWMn