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Rich people could just move

Saturday, June 27, 2026 3:57

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Mitchell Palmer has a useful CAPX reminder of why the good folk at Makerfield didn’t know what they were likely to end up with by voting for Andrew Burnham as their new MP. In particular, they didn’t know if he would continue failed redistributionist policies of the past.

The whole piece is well worth reading as yet another example of how easily voters are steered into voting for more of the same.

Burnham’s fantasy about ‘trickle down economics’

The economic argument for lower marginal tax rates on higher incomes is not that giving rich people more money will make them generously sprinkle it over the poor
The real question is not whether the rich are getting more than their ‘fair share’ but whether Britain can afford to keep punishing work, saving, investment, and enterprise
Rich people could just move to Dubai, Singapore, or even Italy

In a recent speech, Andy Burnham, Makerfield’s new MP and likely our next PM, said he would end ‘trickle-down’ economics. What on earth was he talking about?

The Left often accuses the Right – and particularly the last Conservative government – of practising this voodoo art form. Supposedly, right-wingers give tax breaks to the ‘rich’ in the sure and certain hope that these tax breaks will ‘trickle down’ to the poor. Or, as is often asserted, they might do so to curry political favour from their ‘mates’. After all, as Peter Manion said in The Thick of It, ‘some of my best friends are money-grabbing w*****s’.

As a description of the last Tory government’s actions, nothing could be further from the truth. Between 2010 and 2024, the only group who saw their direct tax bill increase were the top 10% of income earners. Today, the top 10% of income earners earn 34% of the income, but pay 59% of the income tax, up from 55% in 2010. If successive Tory Chancellors believed in a supposed ‘trickle-down’ theory, they were incompetent at executing it.

Source: https://akhaart.blogspot.com/2026/06/rich-people-could-just-move.html

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