After much wrangling within the coalition trenches, a deal has been hammered out that will see the top 50 percent tax rate reduced to 45 percent as of 6th April 2013.
Chancellor George Osborne managed to have the Liberal Democrat half of the coalition Government agree to the rate cut by ceding opposition to a 'tycoon tax'.
In addition, the much talked about raise in the basic personal allowance to £10,000 will have it's introduction accelerated.
More information will be revealed as the Budget is revealed tomorrow. We will cover the main points in more detail as the day progresses.