“In Britain and America, inequality is now back to Gatsby-esque levels.” So wrote Aditya Chakrabortty, Guardian economics leader-writer, yesterday. It is just not true. I don’t know as much about America, but it certainly isn’t true about Britain.
It is a popular myth of anti-Labour propaganda: that the gap between rich and poor expanded greatly under Tony [...]
Ferdinand Mount – The New Few, or A Very British Oligarchy (Simon & Schuster, 26 April 2012)
Now might be a good time to post my review of Ferdinand Mount’s comically trite book. It starts with information that “everyone knows”, namely that the gap between rich and poor is widening. It isn’t. But it did in the [...]
The sequel to my post yesterday was a discussion (audio here) I had at the Spectator’s beautiful wood-panelled offices in Westminster with Fraser Nelson, the editor, about his belief that any marginal rate of income tax higher than 36 per cent loses the government more money than it raises.
He cheated slightly at the end, when Sebastian Payne [...]
Yes, Fraser Nelson, editor of The Spectator, still peddles this tosh. “How do you get more tax from the rich?” he asks at Coffee House. “Cut their tax rates.”
I hadn’t had time to read the Institute for Fiscal Studies Green Budget before Prime Minister’s Questions, but it was brought up by Lorely Burt, the Liberal Democrat MP for Solihull, who asked David Cameron if he had noticed that the IFS had “confirmed” that raising the income tax threshold “is right”, and that the [...]
Readers of my article in The Independent yesterday, which pointed out that the Coalition Government has neither increased inequality nor seems likely to do so significantly, continue to demand further particulars.
The main objection, apart from my leaving “the cuts” out of the picture, about which I wrote this morning, is that, to take the IFS [...]
The suggestion that income and wealth might be becoming more equally spread in this country, in my article in The Independent yesterday, provoked two main negative responses: denial and cavilling.
I have a column in The Independent today with which some people do not agree. Which is interesting, because it is mostly factual, reporting two sets of figures that were published in June and July this year.
They suggest that the gap between rich and poor has, if anything, narrowed under the Coalition Government.
The links to the [...]
Here is a complicated fact in George Osborne’s speech today:
Here is a simple fact: the richest will pay a greater share of income tax revenues in every single year of the coalition Government than in any one of the 13 years of the last Labour Government.
The sentence was not in the text of the Chancellor’s [...]
The Prime Minister has changed his line. In his conference speech last month he said:
The rich will pay a greater share of tax in every year of this Parliament than in any one of the 13 years under Labour.
(I examined the claim here and here.) At Prime Minister’s Questions today he said:
The richest in our [...]
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