British govt to hike top income tax band to 45 pc

LONDON: British finance minister Alistair Darling on Monday said he planned to lift the highest rate of income tax to 45 per cent from 40 per cent to help fund a major economic stimulus package.

The new band, which will be introduced in 2011, will apply to an individual's annual earnings of above 150,000 pounds (177,000 euros, $226,000), Darling told lawmakers.