Budget 2009: Politics before economics

Quite simply, the 50p top tax rate is designed as a trap for the Tories. The IFS have already said that 45p wouldn’t raise any money, so 50p certainly won't either. It may well have the effect of driving talented people away from Britain to countries like America or Switzerland, where the top rates are 35 percent and 30 percent respectively.

People may not cry over the bankers, but they will cry over us losing talented software writers and the like.  That will have a deletorious effect our ability to forge a new economy after the recession.  And it is a good demonstration of Brown doing harm to the country for the sake of politics and dividing lines.

David Davis is the MP for Haltemprice and Howden.