The issue of introducing a new higher tax bracket for the “super rich” has provoked significant response and, tellingly, none in its support. Let me say with all honesty that I had not heard any of the 10 economists, present at the pre-Budget meeting with the finance minister, supporting it either. Four, including me, had explicitly opposed it. So we were surprised to see press reports saying that economists had supported it. I hope this does not imply that the dye is already cast. Because that would make it a most ill- timed and -conceived proposal for a long while and could reverse the gains made in recent months.