Correct - the term is marginal.
The effect of very high marginal rates and fiscal drag, is that people reduce their productivity as they get pushed into this 62% band.
Net effect; so crewing want a day off worked for the DO payment - no thanks, ⅔ of it goes to Hunt, so what's the point. Or in my case, ten years of being pestered to become a desperately needed LTC - but again why work much harder to have little to show for it in the pay packet. At the macro scale, GDP suffers.
Plus the government lose rather than gain revenue on pay over£100k, because all of it goes into a pension. (At least now, the £40k contribution limit is gone, so maybe I will do training. Retirement is looking pretty sweet!)