Labour and the 50p rate: principle or pragmatism?

While Miliband once said he would "keep the 50p rate permanently", Balls says he would "rather get tax rates down".

As Labour begins to offer greater detail on the fiscal stance it will adopt in 2015, the question of whether it would restore the 50p tax rate is becoming more insistent. On last night's Newsnight, Ed Balls gave his standard response that were Labour in power now it would reintroduce it, but that he was unwilling to make tax policy two years ahead of an election. Intriguingly, however, he added that "personally, I'd rather get tax rates down if I could, but I can't make that promise now on the top rate of tax".

Balls's suggestion that he is not wedded to the 50p rate as a point of principle contrasts with what Ed Miliband said in June 2010, when he suggested that the top rate was an important component of a fairer society

I would keep the 50p rate permanently. It's not just about reducing the deficit, it's about fairness in our society and that's why I'd keep the 50p tax rate, not just for a parliament.

Miliband has since generally adopted the line that Labour would bring back the 50p rate "if there was an election tomorrow", leaving himself with maximum flexibility for 2015, but I suspect that he continues to regard a more progressive tax system as crucial to meeting his aim of reducing inequality. Balls, however, takes a more pragmatic view. The difference in outlook is a good example of what one Labour figure had in mind when they told me that Balls "doesn't really buy all of this 'responsible capitalism' stuff". 

Ed Balls told Newsnight: "personally, I'd rather get tax rates down if I could, but I can't make that promise now".

George Eaton is political editor of the New Statesman.

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Angela Rayner - from teenage mum to the woman who could unify Labour

Corbyn-supporting Rayner mentioned Tony Blair in her speech. 

For those at the Labour party conference feeling pessimistic this September, Angela Rayner’s speech on education may be a rare moment of hope. 

Not only did the shadow education secretary capitalise on one of the few issues uniting the party – opposition to grammar schools – and chart a return to left-wing policies, but she did so while paying tribute to the New Labour legacy. 

Rayner grew up on a Stockport council estate, raised by a mother who could not read nor write. She was, she reminded conference, someone who left school a no-hoper. 

"I left school at 16 pregnant and with no qualifications. Some may argue I was not a great role model for young people. The direction of my life was already set.

"But something happened. Labour's Sure Start centres gave me and my friends, and our children, the support we needed to grow and develop."

Rayner has shown complete loyalty to Jeremy Corbyn throughout the summer, taking two briefs in the depopulated shadow cabinet and speaking at his campaign events.

Nevertheless, as someone who practically benefited from Labour’s policies during its time in government, she is unapologetic about its legacy. She even mentioned the unmentionable, declaring: “Tony Blair talked about education, education, education. Theresa May wants segregation, segregation, segregation.”

As for Rayner's policies, a certain amount of realism underpins her rhetoric. She wants to bring back maintenance grants for low-income students, and the Educational Maintenance Allowance for those in further education. 

But she is not just offering a sop to the middle class. A new childcare taskforce will focus on early education, which she describes as “the most effective drivers of social mobility”. 

Rayner pledged to “put as much effort into expanding, technical, vocational education and meaningful apprenticeships, as we did with higher education”. She declared: "The snobbery about vocational education must end."

Tory critics have questioned the ability of a woman who left school at 16 to be an education secretary, Rayner acknowledged. “I may not have a degree - but I have a Masters in real life,” she said. It could have sounded trite, but her speech delivered the goods. Perhaps she will soon earn her PhD in political instincts too.