Is a new all-powerful state monopoly on the cards?
.” Yet, bizarrely, the central plank of the Turner report seems to make an assumption which is equally based on fairy tale economics. And if there is one thing the British public should have learnt about our Gordon by now, it’s that the chancellor will always tweak and add complexity. On this occasion, we suspect, once the recommendations of the Turner report and Gordon’s own ideas are mixed together, the resulting concoction will entail at least one new level of growth zapping bureaucracy. Several key recommendations underline the Turner report. Firstly, Lord Turner wants us to scrap means testing and raise the state benefit up to the level which is currently only available to individuals who receive the basic rate plus the full tax credit. To fund this he suggests we must all work longer. By 2050, it would appear we would be retiring at 67, maybe older. And Gordon’s twist? There’s no chance he will agree to remove the tax credit, means testing will stay in force. The debacle of worki
