And then there’s the fudge that the coalition may produce – a cut to 45p. This will signal three things. The first is that the case for the tax rate raising money has been conceded. The second is that the political significance of the rate in delivering tax justice will have been conceded. And third it will say despite such obvious evidence that these first two present that the Tories will serve their own come what may. In that case the compromise may be the worst possible outcome of all for the Tories: they will have conceded that what they are doing is irrational and purely self serving but will have done it none the less.
It might just be an admission that 45 p is the revenue maximising rate.