The Predicament of the British High Earner (Henry)

Meet the “High Earner, Not Rich Yet”—or Henry—the British six-figure worker who looks wealthy on paper but is quietly being squeezed by the tax system. In this episode, we dig into how earning just over £100,000 can trigger eye-watering marginal tax rates of 60–71%, wipe out allowances, and even leave some Henrys worse off than if they earned less. They’re excluded from perks like free childcare, pushed into odd tax-efficiency tactics, and largely ignored by every major political party—despite contributing nearly half of all income-tax revenue. What happens when a growing class of heavily taxed, politically homeless high earners starts to question a system that punishes upward mobility? https://www.economist.com/britain/2025/03/26/who-will-speak-for-henry