Signs of a New Labour revolt over the 50p top tax rate emerged yesterday when Stephen Byers described the proposal as “cynical” and warned that reneging on Labour’s manifesto commitment not to raise taxes was something the party would live to regret for years to come.

The former cabinet minister said he feared the budget “will make the UK less attractive, wealth creation will slow down, and that will have negative consequences for public spending”. Patrick Wintour, The Guardian.

If there was a Labour bone in Byers’ body then he could find plenty of evidence to contradict his views – another Labour MP who should have joined the Tories.