For almost half a century, in other words within the limits of political memory, Britain has been a country where the priority of most governments has been to keep a few key economic numbers low. Income tax, interest rates, inflation and most people’s wages: all were deliberately suppressed by Downing Street and its collaborators in business and the Bank of England. By doing so a space was created – in theory at least – for certain interest groups to flourish: employers, entrepreneurs, shareholders, top earners, homeowners and consumers. Together, they...