Consider this left-wing nonsense:

“The Government should be prepared to redistribute more through the tax system: from the wealthy to working families with modest incomes. They should be prepared to increase taxes on accumulated wealth so they can cut taxes on income. They could raise more money through inheritance tax.”

In a country where the top-marginal rate of tax is 60%* is the pressing policy challenge a lack of redistribution and too low rates of taxation? After managing to keep a mere 40% of your justly earned income this wonk wants to increase the tax burden on your savings. If you then want to pass on your savings to your children he wants to tax the cash all over again…

Which left-wing Corbynista policy wonk is responsible for this nonsense? Nick Timothy, author of that Conservative Party manifesto and Theresa May’s former right-hand man for policy, proposed this in The Sun this morning. How he thinks social mobility will be increased by taxing people more heavily is not clear. Margaret Thatcher correctly identified that many of her opponents would “rather have the poor poorer, provided that the rich were less rich.”  Levelling down is the worst form of social mobility…

*According to the Taxpayers’ Alliance a salary of £110,000 will, including employers’ NI, see you on a marginal rate of 66.6%.