Unison suggests 50% tax for incomes over £100,000

Potential savings worth £77.8bn, including the introduction of a 50% tax rate on incomes over £100,000, have been identified by union Unison.

The union is gearing up to mobilise support for an alternative plan for economic recovery ahead of the coalition government's emergency Budget on Tuesday.

Other cost-saving measures suggested by Unison include introducing a Robin Hood Tax to generate £30bn a year from UK financial institutions from a major financial transactions tax; £4bn by cancelling missile program Trident; and £2.8bn by ending the central government use of private consultants.

Dave Prentis, Unison general secretary, said: ‘Our members are angry - they are angry that the government is forging ahead with drastic cuts to vital services - and ignoring the obvious alternatives.

‘The bankers that got us into this mess should pay their fair share towards the recovery. Introducing a tax on transactions would be a good place to start, raising £30bn, which could be reinvested to save services.'

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