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The Labour Party goes retro..

Yup, its the 1970's all over again, as Harriet Harman seeks the deputy leadership by throwing some red meat to economically illiterate activists decides it is time for a little class warfare.

This time it is City bonuses in Labur's sights..

Quoth Harman: "Inequality matters. The big gap between those at the top and those at the bottom makes for a sick society. I do take the view that we are in the Labour Party because we don't like to see some people struggling while others are hugely rich."

And there was I thinking that 'new' Labour was more interested in increasing the size of the pie rather than in dividing up the existing one. Quite apart from the right of City companies to engage in economic acts between consenting parties, this seems like a really great way to destroy the City of London by having its best and brightest decamp for New York, Honkers or wherever.

Still, what's the point of having a successful sector of the economy when it can be bled white for the very short term benefit of Labour's client vote? What Harman also doesn't realise is that a lot of the City big boys and girls have comparatively modest salaries, and the bonuses are what keep their incomes up to snuff.

I have neither the ability nor the stamina to cut it in the City, and those I know who have succeeded have made unbelievable sacrifices to get to where they are. That's their choice, and if the rewards are enormous, so be it.

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Anonymous Anonymous said... 1:44 pm

Harman is barking. Inequality of income doesn't matter at all. It's not harmful to society that X makes more money than A.

Inequality of education and opportunities matter.

Inequality of opportunity has come about because the socialists have levelled down education so that bright children are robbed of challenge, and have destroyed grammar schools that provided opportunities for clever children, no matter what their family circumstances, to climb up a few rungs.

Harriet Harman is just one of the twittering, vacuous, officious zaNu-Lab women with a laughably unjustified high opinion of herself. It would be nice if we had one day without socialist toxins pouring out of their mouths.  

Blogger Rigger Mortice said... 1:54 pm

harriet is talking bollocks and she should have deferred to GB before she made the comments.he'd have told her the awful truth.all these city types pay a lot of tax both in income tax and stamp duty ie tehy really need them.

windfall taxes all round methinks  

Blogger Croydonian said... 2:39 pm

As a great man once pointed out (Not sure whether it was Milton or Friedrich, but I think it was MF), there is little or no envy of musicians, sportsmen etc for being rich, but plenty for businessmen and so forth.

It is a curious thing that people who win those popularity contests - so to speak - are considered more deserving of their riches by the man or woman in the street than are those who build a business or excel within one.  

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