Vince Cable finds the sight of over 100 businessmen signing up against the increase in National Insurance "nauseating." Particularly offensive is seeing Sir Stuart Rose, the boss of M&S leading the charge. You see, as the Observer points out, M&S are paying Mark Bolland, their new CEO up to £15 million this year. The increase in NI will cost M&S £10 million, so if Mr Bolland could afford to live on just £5 million this year, there would be no effect on the staff or the £625 million annual profit.
You see, while the Tories are good at coming up with negative terms to describe taxes - the 'death tax' to describe a universal levy to cover the cost of social care or a 'jobs tax' to describe a small sharing of the economic pain with Britain's businesses.
Incidentally, if the Conservatives were to apply their multiplier limit proposed for the public sector, whereby a public sector leader would not be allowed to earn more than 20 times the salary of their lowest-paid employee, that £5 million pay packet would demand that the shop cleaners in M&S be paid £250k per annum.