The politics of the ‘undeserving rich’ is again dominating the news this morning. David Cameron tells the Sunday Telegraph that ‘The market for top people isn’t working, it needs to be sorted out’. While the Mail on Sunday reports that George Osborne is planning to create a new criminal offence of ‘criminal negligence’ that could be used against those bankers who endanger the financial system.
Perhaps the most significant aspect of Cameron’s Sunday Telegraph interview, though, is his attempt to redefine ‘fairness’. Cameron has tried to do this before, arguing that it isn’t just about redistribution but about people getting out what they put in. As Matt d’Ancona notes, this has been a long running Cameroon theme.
But turning around the argument about fairness is going to take a far more concerted effort than we have seen so far. For instance, the coalition’s decision to present its budgets in terms of how they affect each income decile is something that bolsters the redistributive definition of fairness favoured by the left.
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