Dream A Little Dream – Spring Statement 2025

"Listen up everyone – we all know that there are substantial parts of the tax system that do not make sense. They create perverse incentives, disproportionate burdens, and at worst they inhibit ambition and growth. They have no defenders of any political stripe; no one would – hand on heart – say that this is the way to run a modern tax system. The only reason they persist is rank political cowardice. My predecessors have run scared from the political impact of changing thresholds and rates in such a way as to correct these gross anomalies. Yes all tax changes have winners and losers. Yes the losers tend to scream louder. But let's have the courage of our convictions and leave behind a more effective system than the one we inherited. I want everyone to come up with three fiscally neutral reform proposals that would improve the tax system. This