So Alistair Darling is going to raise National Insurance contributions for those on over £20,000 a year.
Sounds a bit familiar.
Ah yes. 1992. John Smith’s Shadow budget, proposing an increase in national insurance contributions for high earners - those getting more than about £20,000.
I remember one televised interview where John Smith looking surprised, & a bit pained, said that he could not understand objections because most people would not be affected.
But there were many people, especially in London, earning about, say £15,000 a year, who fully expected to be earning that kind of salary soon – their talents & hard work were worth it.
It was that aspirational aspect which Labour was failing to recognise, but which informed the whole New Labour project.
And I was hoping to add something about actual cash earnings then & now, but the ONS website has defeated me again.
