- Tue Nov 11, 2025 11:17 am
#99644
The Martin Wolf column? I see that Wolf thinks there should have been much more social house building, which makes sense as an anti-poverty measure instead and I expect he strongly supports tax credits, alongside his Brown-Sunak labour market.
Virtually nobody sticks up for this system, because it seems to go against "common sense". Why not raise the minimum wage a lot, so less tax credits, and you're not subsidizing terrible employers paying poverty wages? The trouble with seeing it wages in terms of good and bad employers is that wages depend a lot on how much money is in the local economy. Same problem as seeing rents in terms of predatory and non-predatory landlords. It's surely implausible that London has the best employers and the worst landlords, and eg Neath has the worst employers and the best landlords, seeing that we'll be talking about some of the same people in each place.
I think it's good that the limits of the Brown-Sunak labour market are being acknowledged by the government, because they were shit for lots of people at the sharp end. But it is possible that New Labour's approach was based on what they thought worked best for employment and wages together, rather than just being a moral failure. I hope the employment figures improve.