Rishi Sunak pays identical tax fee as trainer – and solely barely greater than a nurse
Rishi Sunak paid nearly the identical tax fee as a nurse regardless of incomes thousands and thousands extra, it has been revealed.
The super-rich printed a abstract of his tax return exhibiting that he made greater than £2.2million within the final monetary 12 months. The doc exhibits he paid £508,308 in revenue tax and capital beneficial properties tax within the UK.
His huge revenue included £1.8million in capital beneficial properties from a single US-based funding fund, in addition to £293,407 in different curiosity and dividends. He additionally obtained £139,477 in wage from his roles as MP and Prime Minister.
Mr Sunak paid an efficient tax fee of twenty-two.8% on his £2.2million revenue, which is similar fee as paid by a trainer on a mean wage of £41,604, in keeping with figures from Tax Justice UK. It is simply barely increased than the 21% efficient tax fee paid by a nurse on a typical wage of £37,000.
Robert Palmer of Tax Justice UK mentioned: “People will be shocked to learn the Prime Minister has such a low tax rate despite bringing in millions. But this is a feature of our broken tax system.
“At the moment someone who earns most of their money from their wealth – like the Prime Minister – pays a much lower tax rate than someone who relies on going out to work for their living. We need to fix this to make sure that income from wealth is taxed at the same rate as income from work.”
Chancellor Jeremy Hunt also published a summary of his tax return that showed he made a total of £416,605 last year, including £27,370 in rental income. He paid £117,418 in income tax and capital gains tax in the UK.
Mr Sunak first pledged to publish his tax returns during his failed Tory leadership campaign against Liz Truss in the summer of 2022.
The PM and his wife Akshata Murty are the richest inhabitants of Downing Street in history with an estimated £520milllion fortune, according to the Sunday Times Rich List.
Earlier this week he was branded “out of contact” for agreeing to a £1,000 bet on whether deportation flights to Rwanda will get going before the election. He is also under pressure to come clean over whether he uses an NHS dentist.
Downing Street is refusing to say whether the super-rich PM knows what life is like for the millions of ordinary voters finding it difficult to get check-ups.