Monday, November 15, 2010
While the coalition are at least working to make sure the pain of clearing up Labour's economic mess is shared out (such as the latest £10bn tax haul from Brits with Swiss bank accounts), a telling line from the Labour-Lib Dem negotiations in May shows us the rich would have got off lightly if Labour were trying to fix the economy.
An outraged Mr Balls, objecting to nasty Lib Dem plans to cut taxes for the low paid, raise pensions and introduce a pupil premium argued 'We have all these expensive Lib Dem pledges,' said Balls, 'but how do we fund them, and cut the deficit?'
Lib Dem David Laws then explained: 'Look, Ed, as you know we are proposing that the higher personal allowance is funded by progressive tax reforms of the type I would have thought Labour would support - higher capital gains tax, a new mansion tax and reform of pensions taxation.'
An outraged Peter Mandelson spluttered, 'Surely the rich have suffered enough?'
So there we have it. A 4th term Labour government would have been too frighted of upsetting their rich friends, do nothing for the poorest in the nation, and leave everyone in between to pick up the tab for the financial mess.
In fact the only financial concession made was by Ed (tea-boy) Rubberband who stumped up for tea and pastries.
Amazingly, even the Tories were more willing to tax the rich and ease the burden on the poorest in society. And so children, that is how all the left wing policies that Labour refused to consider, found their way into government policy.
And we are all still waiting to see how Labour would propose cutting the deficit, while making cuts that didn't really hurt anyone, least of all the rich.