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| General election 2019: Does £80,000 put you in the top 5% of earners? | |
| (about 1 hour later) | |
| A member of the audience on last night's Question Time on BBC One criticised Labour's policy of raising income taxes for people earning over £80,000 on the grounds that it wouldn't be enough to put them in the top 5% of earners. | A member of the audience on last night's Question Time on BBC One criticised Labour's policy of raising income taxes for people earning over £80,000 on the grounds that it wouldn't be enough to put them in the top 5% of earners. |
| "I am nowhere near in the top 5%, let me tell you, I'm not even in the top 50%," he said. | "I am nowhere near in the top 5%, let me tell you, I'm not even in the top 50%," he said. |
| Presenter Fiona Bruce said Labour, "would raise income tax on those earning over £80,000. You're saying that would affect you because you earn over that sum?" The man confirmed he did. | Presenter Fiona Bruce said Labour, "would raise income tax on those earning over £80,000. You're saying that would affect you because you earn over that sum?" The man confirmed he did. |
| HMRC publishes tables each year breaking down taxpayers into what percentage of earners they are. | HMRC publishes tables each year breaking down taxpayers into what percentage of earners they are. |
| The most recent figures, for 2016-17, show that you needed to be earning £75,300 to be in the top 5%. | The most recent figures, for 2016-17, show that you needed to be earning £75,300 to be in the top 5%. |
| If you adjust that using average earnings figures from the ONS, it's likely that you need to be earning about £81,000 to be in the top 5% today. | If you adjust that using average earnings figures from the ONS, it's likely that you need to be earning about £81,000 to be in the top 5% today. |
| So if he's earning exactly £80,000, it's possible that he's not quite in the top 5% yet - but he's very close. | So if he's earning exactly £80,000, it's possible that he's not quite in the top 5% yet - but he's very close. |
| He's certainly not outside the top 50% - anything over about £25,000 would put him in the top half. | He's certainly not outside the top 50% - anything over about £25,000 would put him in the top half. |
| All the figures so far have been for the whole of the UK but there are clearly regional variations in these figures. | All the figures so far have been for the whole of the UK but there are clearly regional variations in these figures. |
| While we do not have figures for how much you would need to earn to be in the top 5% of earners in a particular region, we do have figures for median earnings by region, that's the amount you'd have to earn to be in the top 50%. | While we do not have figures for how much you would need to earn to be in the top 5% of earners in a particular region, we do have figures for median earnings by region, that's the amount you'd have to earn to be in the top 50%. |
| The region with the lowest average weekly earnings is the North East of England at £531.10, which is 24% or £168 a week lower than the highest earning region, London at £699.20. | The region with the lowest average weekly earnings is the North East of England at £531.10, which is 24% or £168 a week lower than the highest earning region, London at £699.20. |
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