Ed miliband

Labour’s confirmation that it would restore the top tax rate to 50p was not that much of a surprise, Ed Miliband has always been clear that was what he wanted. But it does raise an interesting question about Miliband’s attitude to the market. Those close to the Labour leader passionately argue that his agenda is actually pro-competition and pro-market, that it not a throwback to the 1970s. As Stewart Wood wrote in these pages recently, they see him as the heir to Teddy Roosevelt. But the 50p rate will hit any successful business person regardless of how open and competitive the market they operate in is. This isn’t action to fix a broken market but a view about how much tax successful people should pay.

Syria overshadowed PMQs today. The chamber was quiet and sombre. And both leaders were clearly about to do their world-statesman bit. Ed Miliband rose to his feet with an air of ineffable goodness. He looked like St Peter on his way to donate the dead Judas’s sandals to a charity shop. He asked about Britain’s readiness to accept Syrian refugees in accordance with a UN directive. Britain, said Cameron, is already the second largest donor to Syria. And the crisis can’t be solved by few hundred refugee placements. Miliband used two more questions to press the case for ‘orphans who had lost both parents.’ Cameron said he was prepared to ‘listen to the arguments’. ‘I feel we are gradually inching forward on this issue,’ said Miliband.

Ed Miliband tends to enjoy success when he's either stealing someone else's clothes or offering a possibly unworkable policy that sounds catchy. This morning on the Andrew Marr Show he tried both tactics. Having nicked One Nation from the Tories and repeated the phrase so often that they probably don't want it back, Miliband is now trying to ape a Republican president, Theodore Roosevelt. His close colleague Lord Wood sets out why Labour thinks this is a space it can jump into in a piece for Coffee House. listen to ‘Ed Miliband on the Andrew Marr Show’ on Audioboo The catchy line from this Roosevelt-style crusade is that Labour is now the party of competition, with Miliband planning to appoint consumer groups such as Which?

If you think bankers do a bad job of banking, just wait until government tries its hand. This seems to be what Ed Miliband is proposing today: a Labour government would set up two new banks, to challenge the existing five big ones. And so his 1970s revival continues. There’s no evidence that new banks would help much, as the Bank of England Governor has already indicated. But as I say in my Telegraph column today, Ed Miliband isn't too worried about lack of evidence. He's proposing to be a different kind of political leader. His list of ‘predators’ – ie, nasty businesses to whom he promises to give six of the best - grows longer all the time.

Truce ditched. Peace deal scrapped. The parties agreed to revive Punch and Judy at PMQs today. Ed Miliband opened with bankers’ pay. RBS is seeking to give top traders bonuses of 100 per cent. This requires government approval.

Is the improving economy harming Labour’s standing? According to a new Guardian/ICM survey out today, Labour is still ahead of the Conservatives by three points — but the gap is slowly shrinking. Since the last ICM poll in December, Labour’s lead has dropped to just three points, down from an eight point lead in November: Today’s poll also looks at how assured people are feeling about their own financial position and their ‘ability to keep up with the cost of living’. 52 per cent now feel confident about the state of their personal finances — the highest level since October 2010.

One of the genuine seasonal pleasures to be enjoyed as 2013 slipped around the U-bend was Enoch Powell making his familiar comeback as the Evil Ghost of Christmases Past. Enoch was disinterred by the producers of the hitherto un-noticed Murnaghan Show — presumably in order to frighten the viewers and put a spanner in the wheel of the programme’s principal guest interviewee, the Ukip leader Nigel Farage. Dermot Murnaghan tripped up Mr Farage by the devilishly clever tactic of reading him some anodyne quotes from Powell’s exciting and controversial ‘Rivers of Blood’ speech and asking Farage if he agreed with them. But only later did he reveal that they were the words of the sulphurous Antichrist Powell! Brilliant.

It’s a whole new kind of politics. The subdued atmosphere at PMQs had two possible causes. First, the tragic death of Paul Goggins had stunned the House into near silence. Ed Miliband seemed close to tears as he paid his tribute. ‘Labour has lost one of its own, and one of its best.’ Moving to more substantial issues, Miliband chose the neutral topics of monsoons and roulette machines. He saluted the work of the flood-wardens and the efforts of courageous citizens who had leapt to each others’ aid during the storms. Cameron replied by vowing that river defences would be reinforced with huge sandbags stuffed with cash. Then Miliband moved to fixed-odds betting machines.