by Atul Hatwal
There’s a great scene in I’m Alan Partridge where our hero has just been told by his BBC boss that he hasn’t got a second series. Alan frantically scrambles to come up with something, anything else that might be commissioned.
“Arm-wrestling with Chas and Dave”; “knowing M.E. knowing you” and “inner city sumo” are just some of the suggestions he rattles off.
Nothing.
“A Partridge amongst the pigeons?”
The boss’s interest is piqued. “What’s that?” he asks.
Alan blurts out the truth, “it’s just a title.”
Armando Iannucci is a political doyenne because of the Thick Of It, but often politics more closely resembles his work with the redoubtable Alan.
What “a Partridge amongst the pigeons” is to primetime viewing, predistribution is to economic policy.
In case you missed it, predistribution is the new silver bullet. It’s how Labour can square the circle of a limited government spending while still bearing down on inequality.
Rather than rely on tax-payer backed redistribution, predistribution seems to entail regulating the market so outcomes are more equal and redistribution isn’t needed. At least, not on same scale as in the past.
The most frequently cited example is tax credits: if wages were higher we wouldn’t need to spend state funds on tax credits.
As an idea, predistribution has been floating around for a while, but was anointed by Ed Miliband this week, first in his interview with the New Statesman and then at the Policy Network economic wonkathon yesterday (rather snappily entitled “the quest for growth: ideas for a new political economy and a more responsible capitalism,” though judging by the substantive output, finding Spock might have been a more attainable quest).
Already, think tankers and policy pointy heads are feverishly bashing out articles on what it means and how this is the big idea Labour has been waiting for.
Let me help. Sit back from the keyboard and take a deep breath.
It means nothing.
It’s just a title, and, in practical political terms, there’s nothing behind it.
In his speech yesterday, Ed Miliband tried to sketch out how his vision of predistribution would remove the need for redistribution spending:
“Our aim must be to transform our economy so it is a much higher skill, higher wage economy.”
Hmm. That sounds familiar. Where have we heard those words before?
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