Doesn't this say it all?:

Historians will puzzle as to why a Labour chancellor slashed capital gains tax from 40% to 18% at the behest of private equity. Why did Britain oversee more tax havens than any other nation? Why were buy-to-let mortgages tax-deductible, puffing up the housing boom? Why was there an incomes policy for low-paid public workers, with no word about out-of-control top pay?

If it doesn't, add this:

Figures from the Office for National Statistics show that over the past three years the average income of the bottom third of earners has fallen and that of those in the middle has all but stagnated. That's before the crunch that is hitting them hardest. The minimum wage is not rising in line with inflation. The concept of GDP per capita has become meaningless when an "average" growth figure papers over the difference between outrageous excess and near- zero or minus growth for at least half the population. The tax system fails to redress all this: instead the bottom tenth pays 38% of its earnings in direct and indirect taxation, while the top tenth pays only 34% - and top tax avoiders far less.

The conclude as follows:

The state is people's only protection to regulate fuel prices, help those thrown out of work and build homes as developers go bust. This is no time for shrinking the state, deregulating or letting rip the markets whose "irrational exuberance" led to this disaster. Has Labour the agility or imagination to capture the changed spirit of the times? The filthy rich look less appealing and the low-paid and unemployed more deserving. The instinct for fairness is hard-wired into human beings, never more so than in times of adversity.

You can see why the Right hate Polly Toynbee: in that last sentence she hits the nail firmly on the head.