He knows he must release the 'coiled spring' of recovery against a background of the worst peacetime state of the public finances in UK history. The public finances are in an alarming state of disrepair. Given the scale of the black hole in the public finances it is not surprising that a plethora of tax ideas have been spewing out of the Treasury. One fully understands Sunak's desire to try to restore stability to the public finances. But when the Chancellor starts to mend the nation's tax base, doing so on the backs of the nation's wealth creators should never be an option.

Source: Daily Mail February 28, 2021 22:30 UTC