A secondary annuity market is toast.
Black tie is still a code, of course, but not really a dress code. It is code language. It shouts to the sober world: we are on a serious bender here, so give us a wide berth.
The winner of the inaugural New Statesman/Speri Prize in political economy on how an innovative state can tackle inequality.
The bottom 10 per cent of households pay 47 per cent of their income in tax. But they would gain nothing from the parties' plans.
By insisting that a surplus of £23bn is necessary to reduce the national debt, the Chancellor has exposed himself to the charge that he is an ideologue.
The party has denied Osborne the chance to brand it irresponsible while also maintaining clear dividing lines on future cuts.
There is no sign of the updated Charter for Budget Responsibility that the Chancellor promised would be published by now.
5 per cent doesn't sound a lot.
Parties will have to shift focus as, by the next census in 2021, roughly 104 parliamentary seats will have a majority of households that are renting.
The central tenet of Hard Times is that the economic slump of 2008 and its aftermath have augmented the schisms already present in two rich, but profoundly unequal societies: the UK and the US.
If a government has to cut its spending, it is much better to tax the rich than starve the poor.
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