The new system, introduced by chancellor Alistair Darling, will see the top rate of income tax increase from 40 to 50 per cent for earnings over £150,000 a year.
Wenger said: “Don’t worry, that time will soon be over because with the new taxation system and with the collapse of sterling… the domination of the Premier League will end.
“The pound was at 1.45 or 1.60 (euros) at one stage…from one day to the next it will be a financial problem for all the English clubs.”
“The pound and the tax are issues because the majority of players still come from the eurozone,” Birmingham co-owner David Sullivan told The Times.
“If players think tax changes mean they’re losing out, they will ask for more.
“They do their sums, their agents do their sums and if you don’t pay what they want maybe they go.
“The Premier League clubs have had an extraordinary 10-15 years where they’ve achieved total domination.
“If that reverses it’s hardly a correction we can moan about, it’s just a levelling of the playing field.”
