Today, however, Ed Miliband has suggested that he would break from New Labour. He has written an article for the Mirror, arguing that he would keep the 50 percent tax rate. His analysis is:
‘There is something wrong with a society where nurses earn less in a year than bankers - whose botched deals caused the credit crunch - pay themselves every week. It would take a low paid worker at a top company 80 years to earn what their boss makes in a single year in the boardroom.’
This is a clear break with the Blairite past, and one that, whilst flirting with ‘progressive’ politics, incites class antagonisms. That strikes me as regressive, as well as electorally foolish.