Labour's idiocies when it comes to money

The foolish Chancellor on the run to Thatcher's common sense taking over in 1979 was Denis Healey. He was a clever man and had been beachmaster at Anzio. But he had to play the socialist bloody fool with, believe it or not, a top rate of income tax of 98%.

In or about 1985 I met Sir Leo Pliatsky at a party. He had retired having been permanent secretary at HM Treasury. I enquired as to whether Healey had believed all this socialist drivel. Undoubtedly came the reply.

Burnham might start toying with this madness. If he does it will be no end of a lesson.