Budget will put 50% of taxpayers on top tax rate

HALF of those paying tax will be caught in the top rate of 42% next year.

Since Fianna Fáil and the Progressive Democrats came to power in 1997, more than 200,000 extra taxpayers are paying the highest rate, while there are an additional 400,000 at work.

The Government will have to take out 250,000 from the top-rate net over the next three years to fulfil its promise that no more than 20% of all earners will pay tax at the higher rate.