Latest figures from HMRC reveal that the number of higher rate tax payers is set to have risen rise by nearly 2.5m over the past two years as fiscal drag pulls more high earners into higher rate tax bands.

They say the only things certain in life are death and taxes. What they never said was that one day the vast majority of UK workers would end up paying higher rate 40% income tax on their earnings, a levy almost unimaginable a few years ago.