Tagged: Sunak

PM’s Tax return

A few numbers from Rishi Sunak’s Tax return for 2022-2023

£2.23m – Rishi Sunak’s overall earnings and gains for the last financial year.

£508,308 – paid in tax

23% – the effective tax rate Sunak paid in the UK

45% – the top rate of income tax paid in UK by the highest earners.

That does not make any sense, I smell a rat. What is going on?

Our Prime Minister has a lot of shares in the US wrapped up in an investment fund.

£1.8m – The profit paid out from this US based fund.

20% – the capital gains tax rate in the US.

So has he done anything wrong?

He has not broken any rules in paying a lot of his tax at source. It just happens that he conveniently holds a lot of his wealth in the US rather than in the UK and consequently he makes a financial gain.

One last thought that yanks my chain. The UK Prime Minister pays taxes that pay for public services in the US.

All at the expense of paying capital gains taxes that could be used to fund things like the NHS.

Compare and Contrast.

A picture says more than 1000 words

Last week Rishi Sunak flew on a private jet to Leeds and back. He also did a quick trip to Scotland for lunch meeting with Nicola Sturgeon using the same method of transport. The taxpayer picked the tab for these two trips.

The “PM” clearly is doing his “green credentials” no good at all. Flying in private jets is not recommended by climate change experts

Meanwhile Greta Tuneberg was protesting in Germany against the expansion of a huge, lignite (brown coal), opencast mine.

Greta got arrested, but she was later released. Sunak got back home in time for tea.

Update – The UK prime minister has continued to use a private jet at the taxpayers’ expense. Trips to Indonesia, Egypt, Latvia and Estonia have clocked up a bill over £500,000.

Meanwhile at the same time Sunak has been tearing round the globe his Government has halved Air Passenger Duty (APD) a decision which encouraged Ryanair to add an extra 9 domestic routes to its flight schedule.

It makes you want to weep.

It just goes on and on. Today the press is reporting that Sunak has used a private helicopter to fly from London to Southampton and guess who pays the tab. A journey that takes just over an hour by train and costs about 30 quid for a ticket.