The Tories will be desperately tempted to vigorously oppose the new 45p top rate for those earning more than £175,000. But this is just what Brown wants them to do–as Fraser pointed out this measure has far more to do with politics than raising revenue. Brown is hoping to create a situation in which the perception is that he is trying to save the economy while the Tories are just trying to protect their rich friends.

The Tories mustn’t fall into Brown’s trap

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