Assetocracy: the inversion of the welfare state
To understand how the Tories ended up in such a muddle about who they are and what they stand for, take a walk down any of the nicer streets in Boris Johnson’s constituency. North Hillingdon is as idyllic now as it was a generation ago: spacious houses, with large drives, built before the war. The houses were, once, more or less affordable. One property on Parkway, for example, was bought for £175,000 just over 20 years ago. It’s now valued at £1 million. And what’s true in Hillingdon is true of the rest of the country too. The asset boom that started at the turn of the century has transformed