The Treasury expects to raise only 31% of the revenue, expected of the new 50% income tax imposed on higher earners. The admission, from the director of personal tax at the Treasury Mike Williams, came last night during a select committee meeting in which officials presented the figures. Treasury officials suggested that the rich will find legal ways to avoid paying the tax by, for example, working fewer hours or moving out of the UK altogether, the Times reported. The chancellor has been optimistic that his new measure will raise £1.1bn but figures revealed in yesterday's meeting indicated that the treasury are set lose £2.5bn as 3,5000 workers will find ways to avoid the rate applying to them. Senior Tory MP and committee member Michael Fallon said that the amount equated to a 70% 'leakage rate'.