If I were Chancellor of the Exchequer, I would pray for a rapid return of trade- union militancy. George Osborne’s management of the national finances has been torpedoed by falling tax revenues and rising welfare bills. Both are caused by the same phenomenon: income levels are failing to keep pace with the cost of living. The explanation is simple – wages are low because labour is plentiful and does not have enough bargaining power. The logical if somewhat counter-intuitive answer would be stronger unions with the possibility of more strikes; leading to better take-home pay, less need for welfare benefits to supplement low wages, and eventually, to higher income tax receipts for the Government. And Mr Osborne’s books would eventually balance. An All Party Parliamentary I