But the additional revenue raised from the highest earner, is pittance compared to the additional spending/borrowing that is going to take place.
Besides which, it does not even come in until 2010 at least.
We were supposed to be borrowing £38billion for 2009, with a predicted 3% growth rate, instead we will be borrowing £118billion with a -1.5% (and that is being optimistic) growth rate.
My oh my, how wrong did Mr Brown get that one!!
Osborne isnt far wrong in his digs today, the country is nearing bankruptcy, this is going to come back to haunt us once the economy eventually begins to stabalize, we are now paying the price for a decade of irresponsibility by Brown/Labour, and yes yes yes, LABOUR HAVE DONE IT TO THIS COUNTRY AGAIN!!
Osbornes joke about Labour and their addiction to gambling, running up debts on credit cards and trying to pay them off by getting more credit cards was hilarious, but ultimately it was very very sad, because it is so true.
We are going to be paying for the mess Labour have got our economy into, for the next decade, just like we did the last time they left power!
Alistar Darling anyone??