Millionaire Osborne not a 50p rate payer

If you were heir to a decorating fortune, rented out a Notting Hill flat and earned £134,565 a year you would probably find yourself in the crosshairs of the £150,000 tax band.

Oddly, George Osborne claims he doesn't pay this 50p tax rate. "My salary is less than £150,000..." he told the BBC this morning. "I'm not personally affected". Let's take a closer look.