I read Ed Miliband’s speech this morning before I realised that there was a fuss over his plan to reintroduce a 10p income tax band, paid for by a mansion tax on homes worth more than £2m.
Students of British politics should note that Prime Minister’s Questions is held before lunch is served and Treasury Questions before it is finished, thus setting the tone for the occasion.
Median households are marginally worse off this year than they were in 2005, but the top 45 per cent are still worth more than they were six years ago. And the top 10 per cent are quite significantly better off, enjoying a net worth almost £100,000 higher than in 2005.
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