The UK currently has a progressive income tax system on earnings. The rules are as follows:

1. Any earnings under 11,500GBP are taxed at 0%.
2. Any earnings between 11,500 GBP and 33,500GBP are taxed at 20%.
3. Any earnings between 33,500 GBP and 150,000GBP are taxed at 40%.
4. Any earnings above 150,000 GBP are taxed at 50%.

An executive earns 175,000 GBP gross. How much tax does he pay?
Give your answer in pounds to the nearest pound.