The 2012 budget – dubbed the "omnishambles budget" by the then Labour leader Ed Miliband – is viewed as the nadir of Osborne's political fortunes. Osborne cut the 50% income tax rate on top earners, which he said had been specially designated by his predecessor as "temporary", to 45%. Figures from Her Majesty's Revenue and Customs showed that the amount of additional-rate tax paid had increased under the new rate from £38 billion in 2012/13 to £46 billion in 2013/14, which Osborne said was caused by the new rate being more "competitive".