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And those are the high earners in a neighborhood like that.

He also announced that 80% of workers will not pay income tax but higher earners will pay more.

Fernandes has spent the past few days seriously considering the deal which would have more than doubled his salary at Manchester United, where he is one of the biggest earners.

Marc Lichtenfeld, chief income strategist at The Oxford Club, believes that municipal bonds are solid options for higher earners or people living in high-tax states.

One ambitious backbencher has backed a land tax and argued for £20bn of revenue-raising, including a revaluation of council tax in England, and higher levies on the savings and investments of high earners.