Today’s report from John Hills’s National Equality Panel contained little to surprise campaigners, but made depressing reading nonetheless, revealing that levels of income inequality are higher today than 40 years ago.
The substantial rise in inequality happened under Mrs Thatcher, and Theresa May was gracious enough this morning to acknowledge the failures of past Tory governments, while attacking Labour’s failure to secure improvement over the last decade. But her own solutions for addressing the problem were striking for their selectivity: causes and consequences were casually blurred, and while highlighting Tory plans for a pupil premium, and to address worklessness (though these lack much of substance), she steadfastly refused to say anything about increasing family incomes, leaving a gaping hole in Tory thinking that would mean income inequality would get worse.
Labour by contrast has understood the need for holistic solutions, increasing incomes, boosting employment and improving educational outcomes, though more needs to be done. Hills’s work shows how income and assets create access to opportunity, the chances that money can buy. While the fashionable talk lately has been about increasing social mobility, today we’re reminded of the importance of adequate incomes as a prerequisite for improving the chances of the poorest and achieving improved outcomes.