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Sorry, you are quite right. Looking it up now, the top rate was 40p from 1988-2010 and Labour raised it to 50p shortly before the 2010 election. No-one complained about it not being progressive enough through the Blair years, but then I suppose back then there was less income inequality and lower demand for public services.
NickCJ
The Tories (well technically coalition) brought in the 45p band (from the previous Labour 50p band).