Today, Ed Miliband used a speech at the Resolution Foundation to set out how Labour can tackle,
“The 21st century inequality, the fairness divide in our economy, [which] threatens to be about a division between the richest at the top who have been doing well, and the majority -lower and middle-income – who have been struggling to keep up: working harder for longer for less.”
Both his underpinning analysis and suggested policy responses are hard to fault. Growing wage inequality which saw wages for those at the top grow twice as fast as those in the middle; wages which for many struggled to keep pace with the rising cost of living and generated a demand for cheap credit; the need to reverse historic under-investment in skills and technology; the value of an active industrial strategy; and the need for a fairer tax and benefit system.