96% tax rates

If the Tories want to get the FT onside, they have a lot of work to do.
There are a lot of problems on the lower margins around benefits and getting off them, but i don't think Cameron's Tories have the answer

"Labour has just pointed out that in 1998 (a year after the Tories were removed from power) there were 130,000 families facing marginal deduction rates (the technical definition) of over 90 per cent.

That has fallen to 60,000 thanks to the minimum wage, tax credits and lower income tax.

In fact, in 1998 there were 5,000 families facing 100 per cent deduction rates. Every £1 they earned was then taken in tax. The number is now more or less zero"