If only Labor took Enoch Powell’s advice

If only Labor took Enoch Powell’s advice

‘You don’t tax a loss. You only tax a profit.’ That was the great insight of Enoch Powell six decades ago, when Harold Wilson’s Labour government seemed determined to tax British industry progressively into decline. Powell was the brilliant British maverick intellectual-turned-politician – the subject of Simon Heffer’s magisterial 1998 biography Like the Roman: The Life and Times of Enoch Powell, republished this month. His point was less ideolo…