The Government needs to trust the people more and resort to rule-making less. This Queen’s speech should set that tone.
Slowing the economy too much this spring will cut tax revenue. They could end up with a bigger deficit from too tough a squeeze.
When it comes to helping working people, a tax cut to hand would be the cancellation of the Health and Social Care Levy.
Plus: Let’s cut VAT on energy bill as soon as we leave transition – deal or no deal. And: first Ardern, then Biden?
The Chancellor is groping his way, knowing well that the future is unknowable, trying to hold on to as much of the past as he can.
What normalisation should mean is the return to a functioning market economy where our wants and needs are met in today’s circumstances.
Given the Coronavirus uncertainties, whatever he announces could be even more provisional than most schemes of most Chancellors.
It should be remembered that the arts contributes more to Britain’s international earnings, in the aggregate, than does the City of London.
It’s a good thing for former senior Ministers to keep thinking, going and contributing, and we wouldn’t be surprised to see a comeback to government.
Post-Covid, the environment is likely to be egalitarian and interventionist. For libertarian, small state Eurosceptics, this must come as a disappointment.
No fuel duty rises, self-employed taxes, income tax rises, more taxes on food and drink – and the like.
The Government has to generate revenue quickly, but austerity and spending cuts are not viable options.
It should remove those taxes and regulations that will stop business from applying their ingenuity on the problem of rebuilding from the ruins.
The Chancellor should use his statement on Wednesday to announce a comprehensive and ambitious plan to counter the threat.