A basic rule of thumb comes to mind and seems universally accepted: you should be able to keep at least half of every extra pound you earn.
The overseas aid and Universal Credit decisions suggest that, for the first time in a while, the cause of fiscal conservatism is gaining the upper hand.
By reminding backbenchers of manifesto commitments on debt control, he is squaring up for battles to come over the spending review.
We should base it on an index of cumulative change in wages.
The problem is that spiralling spending demands quickly use up the options which voters don’t notice. Eventually you need other big sources of revenue,
But this electoral Titan has an Achilles heel – tax rises which, rather than planning or HS2, are the real threat to future Chesham & Amershams.
In the wake of International Women’s Day, the fifth article in a five-piece series on ConservativeHome this week.
The present social contract was written when the number of taxpayers well outstripped the number of retirees. But times have changed.
The Treasury should hold one as the year rolls on, along the lines of that undertaken by Canada’s government during the 1990s.
Modest consolidation over decades is one thing; large increases over a Parliament would be quite another.
Given the Coronavirus uncertainties, whatever he announces could be even more provisional than most schemes of most Chancellors.
Our manifesto couldn’t reasonably be expected to predict the freak consequences of Covid in terms of rapid wage growth.