Why is Osborne so keen to gratify the fatcats? OK, so the 50p tax rate brings in only hundreds of millions, rather than billions, but that is surely not to be sneezed at. And it only applies to those earning more than £150,000 a year, and then only to the amount earned which exceeds £150,000. Furthermore, if it is so easy for the fatcats to avoid, why bother removing it? (Or better, tighten up the rules.)
It's all very well for the LibDems to argue that the government can take it off the rich in other ways, but why can we not retain the 50p rate, as well as eliminating their other shortcuts to paying fewer taxes?
What kind of message does it send to the poor OAPs, struggling to keep their houses warm, or the low-paid public sector workers, facing consistent reductions in living standards?