David Cameron has ruled out 'significant' tax cuts while the Government is cutting spending to reduce the deficit.
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But Mr Cameron insisted there was no 'Plan B' on the coalition's deficit-reduction strategy and said tax cuts would only undo the work of painful curbs in public spending.
"Curbs" not cuts - the difference should be noted in his phrasing.
I happen to agree with Mr. Cameron; deficit reduction is now effectively a tax on our children and grandchildren - inter-generational state terrorism if you will - we should put the 11% overspending down; that should have been a non-negotiable start and done this year.
The Fabian left and Progressively Labourious would no doubt argue that a vast proportion of the present deficit was due to the bank bailout - and they would be right.
However, when state spending has reached an unjustifiable, nigh on 50% theft of total GDP slowly decoupling banking liabilities makes for a very useful start to cutting the overall tax take.
For a start.
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