George Osborne has squeezed more from the rich than any UK Chancellor, ever

The Sunday Times Rich List is out today – and it says a lot about Britain. Mainly: what type of country are we? One that reads that supplement with admiration, or with outrage? I’d argue that the former, but this runs contrary to the bovine populism being encouraged by Labour.

Ed Miliband wants to raise the top rate of tax to 52 per cent which, as he knows, will raise next to no money. The real purpose of that tax rise is to perform a basic populist manoeuvre: identify an enemy (the highly-paid) and then promise to hurt them. Today, it’s landlords: rent would be capped by the government. Like all left-wing populists, he is out to draw dividing lines: tenant vs landlord, worker vs employer, rich vs poor. His government is all about thwacking the bad guys (including the rich) in the name of fairness.

But here’s one statistic Miliband will never repeat: the best-paid 1pc already contribute 27pc of the income tax.