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By Professor Glenn Lyons

A rising tide lifts all boats?

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A rising tide lifts all boats I understand to be code for ‘there’s nothing wrong in the rich getting richer’ and ‘if you tax the rich too much they won’t raise your country’s tide, they’ll go somewhere else instead’.

I’ve looked at two articles today.

One was titled “Labour is about to give Middle England a simple choice: emigrate or give up”. This is the rising tide article it seemed to me. At its heart is a plea to not tax the rich. Though it doesn’t say this. Instead it suggests that ‘hard-working brits’ (you know, not the work-shy grifters) might not be able to leave the UK to find a better tax regime and that perhaps they may as well give up being hard-working brits and ‘join the ranks’ of those that ‘already receive more in benefits, including the imputed value of health and education, than they pay in tax’. Letting the rich instead raise the tide for us all would be wise, apparently.

The other article in contrast demanded “a final and total rejection of the toxic idea that economic growth is gifted from the few to the many”. It suggests that:

– NHS waiting times could be cut through further investment “paid for by cracking down on tax avoidance and non-dom loopholes” (you know, those hard-working brits trying to avoid paying any more tax than they absolutely have to, while expecting to enjoy everything that tax helps pay for).

– Energy bills could be cut by establishing a publicly-owned clean power company “paid for by a windfall tax on oil and gas giants” (you know, those companies that put profit before planet in order to give their hard-working shareholders a good dividend).

– An additional 6,500 teachers (have you spoken to anyone working in a state school recently, if not I suggest you do) “paid for by ending tax breaks for private schools” (note that it’s a tax *break*).

Gosh, I just don’t know, which document sounds more credible if we want a fairer, cleaner and more prosperous future? It’s just so hard to weigh up.

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