Earnings between £43,000 and £50,000 will be taxed at 53%. This is 41% income tax and 12% national insurance. A rate comparable with Scandinavian countries but with nothing like the services enjoyed in those countries.
This tax rate will deter people from choosing to come to what is now the highest taxed part of the UK. Understanding the Laffer Curve and the effects of these tax rates that may well reduce the overall tax take and result in less money for services. A dangerous fine line to tread.