The super-rich and the Conservatives?
Nick Cohen in his latest Observer column argues that Gordon Brown's lax taxation of the super-rich is driving the middle class, who he alleges are left paying too much tax [1], away from Labour and ... well I guess into the arms of the Conservatives given the opinion polls, but that seems an odd reaction.The column focuses on Ronald Cohen (no relation), whom Nick describes as "Brown's Lord Levy". Nick continues:
What's novel is the strong element of resentment of the rich, particularly in London and the south east, where the middle classes compete with the likes of Sir Ronald for decent homes and places in good schools.
Is this true? Nick's definition of the middle classes are, as we have seen, those on household incomes of £100,000 a year, and I presume the 'rich' are those on, say, £500,000 a year and above. It all seems a very small segment of the population to be driving major electoral shifts, though I suppose (particularly in local elections) their turnout might be high enough to make them a factor.
[1] I can't find the figures now, but when I last looked I think the top 20% of the income distribution pay a higher proportion of tax now than in 1997, but not by much. However I can't confirm or reject Nick Cohen's argument, as the distribution of taxes amongst the top 1% as opposed to the top 2-5% (what I think is Nick's middle class) is not easily available, if it is at all.
Labels: Nick Cohen
posted by Matthew @ 4/23/2007 09:44:00 PM
Comments: 6
