What would you do if you were the Chancellor and you'd just announced that halving the UK's annual budget deficit was "non-negotiable"? There are a few things I think we'd all get sorted in a hurry. We'd cap all public sector salaries at, say, £175,000. We'd cut all benefits to the middle classes. We'd try and make the tax system flatter and less complicated (how hard can it be?). And we'd ban management consultants.
But then what? Here's an idea. How about we increase the minimum wage by 30% or so, making one hour of basic work worth £7.50 and a year's work on the minimum wage (assuming a 40 hour week andfour weeks paid holiday) worth £15,600, rather than the current £11,856.
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