India has the answer to growth – tax the rich

Posted on

As the FT has reported this morning:

India plans to increase spending on capital investment and large-scale social programs by 29 per cent in the next year, while imposing a one-year 10 per cent tax surcharge on the “super-rich".

So, just as the UK is about to scrap its 50p tax rate, and give away several billion in tax to the richest in this country as a result whilst cutting benefits for most in the country, India is going the other way.

I could tell you which one has got it right, but I think you already know.


Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here:

  • Richard Murphy

    Read more about me

  • Support This Site

    If you like what I do please support me on Ko-fi using credit or debit card or PayPal

  • Archives

  • Categories

  • Taxing wealth report 2024

  • Newsletter signup

    Get a daily email of my blog posts.

    Please wait...

    Thank you for sign up!

  • Podcast

  • Follow me

    LinkedIn

    LinkedIn

    Mastodon

    @RichardJMurphy

    BlueSky

    @richardjmurphy.bsky.social