So what effect will the 50p tax have on the super-rich? It depends who these people are – and surprisingly little is known about them. One of the most useful sources is the Sunday Times Rich List. One came out last week, and the first issue was in 1989. Unfortunately, it’s not online, but it is stored at the national newspaper archive in Colindale. As it’s the last day of my two-week internship at The Spectator, I went along last night to compare the Rich Lists of 1989 with 2009. This year’s Rich List shows 38 out of Britain’s 100 richest people being immigrants. A healthy percentage – and one that would come as no surprise to any Bond St jeweller or to the maitre d’ of any top London restaurant. But the list of 1989, right after the Lawson budget which cut the top rate from 60% to 40%? There were just 11 immigrants.
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