‘Full employment’ usually means the lowest achievable rate of unemployment — somewhere south of 5 per cent compared with 7.2 per cent today, or to put it in numbers, fewer than 1.5 million compared with 2.3 million last month. You might think it ought to be a target of every Chancellor of the Exchequer.

Is full employment just another of George Osborne’s political stunts?
Plus: A case for soft money, and the woman our boardrooms need

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