Clegg's statement of intent


What does Nick Clegg mean when he talks in the Guardian of a new "time-limited contribution" by the wealthy?

My understanding is that he does not - yet, at least - have a specific measure in mind.

This is a statement of intent, directed partly at reassuring his party, partly at signalling to the country and partly to the Conservatives, that he will not allow the next phase of austerity to focus on the poorest in the land.

The chancellor signalled in his last Budget that he would be looking to cut the welfare bill by a further £10bn to meet the cuts made necessary by his earlier announcement that austerity would continue for two more years from 2015.

His main challenge may not be George Osborne, though. I'm told that before the last Budget the chancellor was willing to trade a cut in the top rate of income tax to 40p - not 45p as was announced - in return for agreeing to a version of the Lib Dems' Mansion Tax.

It was David Cameron who vetoed both ideas.

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  • rate this

    Comment number 99.

    77. nilihist
    WPP CEO is one of the worst examples of the limitless greed of a beancounter extracting the maximum pecuniary gain for himself from the efforts of thousands of grateful employees. I am sure they will all contribute generously to an obelisk in his memory when he goes.
    Seems we are going forward to the past. Memories of the Duke of Sutherland and Dunrobbin'.

  • rate this

    Comment number 98.

    71. AndyC555
    If in real terms average salaries fall by 10% and top salaries increase by 100% you'd consider that a success?
    That is where Thatcher, Blair, Dave and Gideon have taken us and continue to take us.
    It is not just salaries - it is all income, plus capital gains and inheritance that make the rich richer.
    If the wealthy continue to cling to all the wealth where will it end?
    Over to Karl

  • rate this

    Comment number 97.

    "Only a redistribution of wealth will save the present economic woe."

    Hmmm. I remember an old T shirt that used to say "Im a Mushroom... kept in the dark and fed Bulls***"

    I think I see a parallel with that particular post.

    "Progressive Analysis"......? Isnt that a euphemism for doing a proctoscopy with ones own head?

  • rate this

    Comment number 96.

    Thick as two short planks, you would never employ him would you? not even for a bit of a laugh!!!

  • rate this

    Comment number 95.

    #94 Mushroomfarmer

    "Only a redistribution of wealth will save the present economic woe"

    -then let´s begin with the National Trust and other such ´charities´


Comments 5 of 99



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