The UK should press ahead with the inevitable on tax
Delays in dealing with fiscal pressures risk further damage to household consumption, corporate investment and overall growth
Delays in dealing with fiscal pressures risk further damage to household consumption, corporate investment and overall growth

Reassessing taxes and spending every six months introduces excessive policy uncertainty

No party looks truly ready to confront tax-resistant voters with some hard questions

Markets ultimately will take notice if the government demonstrates its ability to lower deficits

The government needs more fiscal headroom but must ensure it does no harm

History suggests the political approach ends in unsustainable debt and lower GDP

The chancellor’s failure to drive growth and cut spending leaves future levy rises on the cards