A principles-based update of the tax system would allow the government to keep its promise to voters, writes Prof Helen Goodman Labour came to power with promises to run responsible public finances; not raise taxes on ordinary people through income tax, VAT or national insurance contributions; and rebuild the public services. The chancellor also said she did not want to introduce a wealth tax. It is right to keep promises: Britain has higher debt than Germany and taxing the average person more would be bad for growth.But the pressures are even greater than six months ago, with an urgent need to spend more on defence. There is too much despair in the commentary at the moment and the suggestion that there are literally no options is wrong. Continue reading...