A coda to yesterday's blog about Newsnight's dodgy doomwatch. Tonight, Allegra Stratton, reacting to tomorrow's Guardian story that George Osborne wants to announce the abolition of the 50p top rate of income tax, claimed that the Lib Dems preferred quid pro quo qould be an increase in the personal allowance rather than any sort of "tycoon tax".
This is a quid pro quo in political terms, but not in fiscal terms, as both measures will reduce tax revenues. Given her recent claim that we're heading to hell in a handcart due to rising public expenditure and falling receipts, her failure to point out the stupidity of this "deal" speaks volumes.
My money is on her getting Andy Coulson's old job (the last one) inside 18 months.
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