And what was wrong with the 80s? We have been going steadily downhill since then and the state has been taking an increasingly large share of what we all produce as a society with horrific results. But that is not the main point. If people cannot take risks and earn the rewards in this country then they will go to others where they can. I discussed this once in a private meeting with Nigel Lawson when he was chancellor, and he said that the idea is to encourage people to stay in Britain and pay taxes here.
Oh, and the relatively rich are taxed more even with a flat tax, but why on earth should they? Should they pay more for a loaf of bread?