The idea of identifying the top 5 to 10% of children as gifted is just too broad. Children's intelligence develops at different rates and frankly it is extremely rare to have a gifted child in a school. I feel that labelling a child as gifted can cause under achievement. It can undermine the confidence of a child who has always been told they are clever to be faced with something difficult.
I feel that the gifted and talented label should be reserved for children who are truely unique. Ie, a child who does grade 7 piano at seven years old, or is capable of A-level maths at nine years old or a child who plays sport at national level. These are children who needs cannot be met by normal differentiation in the classroom. They are very different to hot housed children as they think on a higher plane.
Surely it would be better to concentrate resources on the top 0.1% nationally and provide proper funding.