Thursday, 20 January 2011

The diffusion of ownership

The National Liberal Federation meeting in Birmingham in 1919 resolved:

..the national income is far too unevenly distributed, and that a nearer approach to economic equality must be the foundation of all social progress, and it therefore advocates that both income tax and supper tax should be steeply graduated and more fairly adjusted; that death duties should be materially increased...................

Twenty years on in the Yellow Book Liberals noted:

............the fact has to be faced is that the discrepancies now in this country are so glaring, and consciousness of them so acute, that the resulting discontent endangers the continuance of economic progress itself.

And so followed a chapter on the Diffusion of Ownership advocating all manner of radical policies to share wealth with assertion on inheritance tax that would send George Osborne and the Daily Mail into a blue fit.

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