Which countries have the highest top tax rates?

A top rate of 50% would be above the OECD average but Denmark, Sweden, Belgium, Spain and the Netherlands all have higher rates.

Based on the neuralgic reaction of some business leaders and politicians to Labour's proposal to reintroduce the 50p tax rate, you might assume that the UK will become a pariah state if the measure is introduced. But how radical a move would it really be? For comparison, I've listed the top income tax rates (as of 2012) in the rest of the OECD below. 

As the figures show, while a top rate of 50 per cent would be significantly higher than the average of 42.5 per cent it is far from the highest. Denmark, Sweden and Belgium (hardly socialist backwaters) are among the six countries with higher rates, while Austria and Japan also have a top rate of 50p. 

And while plenty have accused Labour of "returning to the 1970s", a top rate of 50 per cent would be far from the top rate of 83 per cent (98 per cent on "unearned income") seen under Jim Callaghan. Even Margaret Thatcher managed to live with a top rate of 60 per cent for nine years of her premiership before Nigel Lawson reduced it to 40 per cent in his 1988 Budget. And, mercifully for the rich, Ed Balls has already said that there is "absolutely" no chance of Labour raising the rate beyond 50p. 

Top marginal tax rate

Denmark 60.2%

Sweden 56.6%

Belgium 53.7% 

Spain 52.0%

Netherlands 52.0% 

France 50.7%

Austria 50.0%

Japan 50.0%

Greece 49.0%

Finland 49.0%

Portugal 49.0%

Italy 48.6% 

Canada 48.0%

Ireland 48.0%

Israel 48.0% 

Australia 47.5% 

Iceland 46.2% 

United States 41.9% 

South Korea 41.8% 

Switzerland 41.7% 

Luxembourg 41.3%

Slovenia 41.0% 

Chile 40.0% 

Norway 40.0% 

Turkey 35.7% 

New Zealand 33.0%

Poland 32.0% 

Mexico 30.0% 

Estonia 21.0% 

Slovakia 19.0% 

Hungary 16.0% 

Czech Republic 15.0%

Average rate 42.5%

At 56.6%, Sweden has the second highest top tax rate in the world. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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The Women's March against Trump matters – but only if we keep fighting

We won’t win the battle for progressive ideas if we don’t battle in the first place.

Arron Banks, UKIP-funder, Brexit cheerleader and Gibraltar-based insurance salesman, took time out from Trump's inauguration to tweet me about my role in tomorrow's Women’s March Conservative values are in the ascendancy worldwide. Thankfully your values are finished. . . good”.

Just what about the idea of women and men marching for human rights causes such ill will? The sense it is somehow cheeky to say we will champion equality whoever is in office in America or around the world. After all, if progressives like me have lost the battle of ideas, what difference does it make whether we are marching, holding meetings or just moaning on the internet?

The only anti-democratic perspective is to argue that when someone has lost the argument they have to stop making one. When political parties lose elections they reflect, they listen, they learn but if they stand for something, they don’t disband. The same is true, now, for the broader context. We should not dismiss the necessity to learn, to listen, to reflect on the rise of Trump – or indeed reflect on the rise of the right in the UK  but reject the idea that we have to take a vow of silence if we want to win power again.

To march is not to ignore the challenges progressives face. It is to start to ask what are we prepared to do about it.

Historically, conservatives have had no such qualms about regrouping and remaining steadfast in the confidence they have something worth saying. In contrast, the left has always been good at absolving itself of the need to renew.

We spend our time seeking the perfect candidates, the perfect policy, the perfect campaign, as a precondition for action. It justifies doing nothing except sitting on the sidelines bemoaning the state of society.

We also seem to think that changing the world should be easier than reality suggests. The backlash we are now seeing against progressive policies was inevitable once we appeared to take these gains for granted and became arrogant and exclusive about the inevitability of our worldview. Our values demand the rebalancing of power, whether economic, social or cultural, and that means challenging those who currently have it. We may believe that a more equal world is one in which more will thrive, but that doesn’t mean those with entrenched privilege will give up their favoured status without a fight or that the public should express perpetual gratitude for our efforts via the ballot box either.  

Amongst the conferences, tweets and general rumblings there seem three schools of thought about what to do next. The first is Marxist  as in Groucho revisionism: to rise again we must water down our principles to accommodate where we believe the centre ground of politics to now be. Tone down our ideals in the hope that by such acquiescence we can eventually win back public support for our brand – if not our purpose. The very essence of a hollow victory.

The second is to stick to our guns and stick our heads in the sand, believing that eventually, when World War Three breaks out, the public will come grovelling back to us. To luxuriate in an unwillingness to see we are losing not just elected offices but the fight for our shared future.

But what if there really was a third way? It's not going to be easy, and it requires more than a hashtag or funny t-shirt. It’s about picking ourselves up, dusting ourselves down and starting to renew our call to arms in a way that makes sense for the modern world.

For the avoidance of doubt, if we march tomorrow and then go home satisfied we have made our point then we may as well not have marched at all. But if we march and continue to organise out of the networks we make, well, then that’s worth a Saturday in the cold. After all, we won’t win the battle of ideas, if we don’t battle.

We do have to change the way we work. We do have to have the courage not to live in our echo chambers alone. To go with respect and humility to debate and discuss the future of our communities and of our country.

And we have to come together to show there is a willingness not to ask a few brave souls to do that on their own. Not just at election times, but every day and in every corner of Britain, no matter how difficult it may feel.

Saturday is one part of that process of finding others willing not just to walk a mile with a placard, but to put in the hard yards to win the argument again for progressive values and vision. Maybe no one will show up. Maybe not many will keep going. But whilst there are folk with faith in each other, and in that alternative future, they’ll find a friend in me ready to work with them and will them on  and then Mr Banks really should be worried.