So the Lib Dems have caved on Trident, immigration, the euro and voting reform. Quite a list. True, you can't have power without compromise, but too much compromise starts to look a lot like powerlessness. At least they've won a concession from the Tories on income tax: according to the BBC, in their summary of the coalition's policies, there will be a ‘substantial rise in income tax allowances for lowest paid from April 2011’. Hang on a minute, though. Can it be that the public broadcaster has fallen for the new government's spin? Because, as it happens, raising the personal income tax allowance won't benefit the very lowest paid:

