Higher income taxes for wealthy 'top of the list' for Scottish Government at next Budget

dailyrecord.co.uk:

Thousands of wealthy Scots would pay more income tax under plans being seriously considered by the Government.Ministers are discussing redrawing the thresholds so that more people who are affluent pay the 46p top rate of tax.A source told the Record the tax change was "top of list" of the reforms being planned.Tory Chancellor Jeremy Hunt this week hit voters with a £55bn package of austerity measures consisting of spending cuts and tax rises.One move that was welcomed was lowering the level at which the top rate of income tax in England - currently 45p - is paid from £150,000 to £125,140.With income tax devolved to Holyrood, it is up to MSPs to decide any changes for Scotland in next month’s BudgetA Government said that Nicola Sturgeon’s administration has for the last few months been discussing lowering the threshold from £150,000 to around the same level announced by Hunt.Raising more money from top earners is seen as politically attractive given the huge pressure on funding next year.Estimates suggest the move could bring another 12,000 taxpayers into the top rate, which is 1p higher in Scotland, on top of the 22,000 people currently paying it.John Swinney, acting finance secretary in the Scottish Government, appeared positive on Thursday when asked about the Hunt decision on the top rate.He said: “I understand why the Chancellor has taken that decision.“I think in a sense he is recognising some of the principles that have underpinned the tax decisions that we have taken as a government.

We have rebalanced the tax structures in Scotland so that those who are higher in the income range are paying more in tax.”In a broadcasting interview, First Minister Nicola Sturgeon said her Government’s Budget would propose a