George Osborne knows how to stick pins in his enemies. Using the phrase ‘Workers of the world unite’ to introduce a wheeze that will allow employees to swap employment rights for shares in their employer got well up the noses of the left. ‘There are so many holes in this it deserves to sink without a trace,’ said Mark -Serwotka of the Public and Commercial Services Union, no doubt hoping to restore his good name after his calls for public-sector workers to use the Olympics as an opportunity to strike.

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