Louis Woodhill for Forbes details the history here, wondering why they call tax increases in the throes of an economic crisis Conservatism in the UK.
Maybe because Prime Minister Cameron isn't really a conservative, just like George Bush wasn't a conservative (junking free market principles to save the free market system). The top marginal tax rate went from 40 percent to 50 percent in 2010 in the UK.
Conservatism hasn't been practiced in either place in a very long time.
