George Osborne made his ambition to scrap the 50p tax rate clear in last month’s Budget. “[T]he 50 pence tax rate would do lasting damage to our economy if it were to become permanent. That is why I regard it as a temporary measure,” he said.
Osborne aims to scrap the 50p rate by 2013
Chancellor pencils in 2013 as the earliest possible opportunity to remove the top rate.