Finance guru: Liverpool on course for influx of ‘big earners’ as budget revealed
Liverpool could be set to attract more “big earners” from overseas after the chancellor’s decision to cut income tax and national insurance.
That is the view of finance expert Doctor Dan Plumley, speaking exclusively to Football Insider about Kwasi Kwarteng’s explosive mini-budget announcement last Friday (23 September).
Among a raft of new measures designed to help curb inflation is a cut to the top income tax rate and the reversal of a planned rise in national insurance.
As relayed by the BBC on Monday (26 September), international markets have responded disastrously, with the pound falling to a record low against the dollar.
Liverpool paid £314million in wages in 2021-22 and, as with every Premier League team, all of their senior stars sit well within the top tax band.
Plumley claims that, although the tax cuts have been panned by economists, the Premier League has immediately become an even more attractive destination for foreign stars.
“It is likely to make it more attractive than it already is,” the Sheffield Hallam University expert told Football Insider’s Adam Williams.
“It certainly doesn’t do any harm. We know if you’re one of those big earners then, under the system in this country, footballers do pay a substantial amount of tax on their wages. This will help to smooth that over.
“The bigger factor is that the Premier League is the destination to be. There are some of the biggest clubs and the allure of Champions League football.
“But these sorts of things always help. We know the wages are high and the players are paid well. So, it wouldn’t do you any harm if you were thinking of moving to the Premier League at this point in time.”
In other news, pundit suggests Liverpool have secret weapon in race to sign Jude Bellingham after journalist’s update.