Should top earners be taxed by 50 per cent?

IF THE question were put to Joe Public: if you won the Lotto, football pools, or the top Premium Bond prize and then had to cough up 50 per cent of your winnings in tax, would that be ‘fair’? I imagine the answer would be a resounding No! But it seems it’s OK to tax others unfairly — until you personally feel the hammer of a 50 per cent tax rate. JAMES ROBERT-POULAIN,

London SW11. I AGRee with Labour shadow chancellor ed Balls’s policy of returning the top income rate of tax to 50p. It’s correct to do so, both morally and financially. When there’s still a need to reduce the deficit, those with the broadest shoulders should share more of the burden. It’s fair for the nation and socially responsible, particularly as those on low incomes are having to struggle. this Government has turned a blind eye to tax avoidance by the richest in society, and this is something I hope Labour would tackle in the future. the conservative Party is scaring people into thinking a 50p tax rate would harm our economic growth. the coalition has failed to explore other ways in that the Government could raise revenue which can be pumped into public spending projects to further encourage a re-balancing in our economy and bring about jobs.

OLIVER B. STEWARD, Norwich. IT’S not the 50 or 60 per cent tax which is the problem but how the goal posts are continually being moved in every country. Our political leaders must understand that in the global economy no one country can fix tax laws unilaterally any more. If business and financial leaders want to pay less personal tax, they’ll have to accept the end of the bonus culture and a cap on excessive earnings. To create a level tax playing field, governments must clamp down on the use of offshore banks and companies in tax havens and end tax avoidance schemes for the privileged elite.

PETER FIELDMAN, Madrid, Spain.