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Showing posts from September, 2022

The strange good fortune of Britain's unpopulists

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IF you want any further proof that right-wing parties play by very different rules you only have to thumb through the contents of today's "mini-budget".  Mini by name, but certainly not in ambition; the £45 billion package of tax cuts is the biggest we've seen since 1972. The major takeaway is almost all of the headline measures hugely favour big business and the highest earners. Our new PM hasn't even attempted to hide it , rather bizarrely suggesting one of the most unequal countries in Europe has previously paid too much heed to redistribution. Top rate tax - paid only by those on £150,000 or more - has, in an instant, been axed. The cap on bankers' bonuses has been similarly abolished. Mega corporations like Amazon and British American Tobacco will be asked to pay no more. We'll leave aside for a minute whether it's democratic that such a drastic vision has been given the green light by a political constituency smaller than the population of the Is