Celebration, not despair
The Daily Telegraph reports that Tony Blair has 'privately expressed his despair' at the new 50% top rate of tax.
This doesn't sound remotely plausible to me. While Tony Blair was Prime Minister, two of his favourite sayings were 'more nurses, teachers and police officers' and 'supporting hard working families'.
And as a result of this budget, Mr and Mrs Blair will be able to increase the amount of support that they personally offer to hard-working families through their taxes. Apparently he earned about £12 million in the year after leaving Downing Street. Including Cherie's work as well, that means that they will be able to contribute an extra £1 million or more in taxes every year.
That's a lot of nurses, teachers and police officers, and sounds more like a cause for celebration, not despair.