It is rather ironic that we in Britain, under Labour, find ourselves as a nation much less prosperous than Communist China, and more taxed than the Chinese.
Income tax in China goes from 5% to a top rate of 45% – less than our 50% – while companies are charged corporation tax at 25%, which is lower than our rate of 28%.
Perhaps Labour should learn from the government of China how to manage the economy better. Otherwise I would not be surprised if the banking fraternity as well as leaders of industry move en bloc there.
Perish the thought!