2 million more people face 40p tax

George Osborne's Budget smoke and mirrors did an impressive job this week, because while the nation poured over his pension proposals and weighed up the future for savings, he quietly dragged yet more people into paying higher-rate tax. The Institute for Fiscal Studies say that during his time with the red box, two million more people have started paying tax at 40%.

Pressure is growing for this to change, but will it take effect?%VIRTUAL-SkimlinksPromo%