Quote Originally Posted by JamesWales View Post
Look, I think the way the budget was presented was wrong, and I think the 45% top rate scrapping is wrong..

But..

It's only a few short months since the UK took the tax burden to "1940's levels"
https://inews.co.uk/news/spring-stat...eaways-1535611
https://www.thetimes.co.uk/article/b...ears-qsrx0wxxw

and opposition MP's were criticising tax rises
https://www.bbc.co.uk/news/uk-politics-60189393

Maybe these reforms will work?
The UK collects around 36% (or thereabouts) of GDP in taxation and this has hovered around 32-33% for many years. We are nowhere near the borrowing of WW2 (which hit 270% of GDP) and its disingenuous to suggest we are. It took many years after the war for borrowing / gdp to return to the peacetime levels we see today.

It is correct to say this government is collecting more in tax revenue than it ever has, but that's due to inflation and the time value of money. Our borrowing as a GDP% is only slightly above pre-pandemic levels.