“Cut taxes to close the deficit” 2

The sequel to my post yesterday was a discussion (audio here) I had at the Spectator’s beautiful wood-panelled offices in Westminster with Fraser Nelson, the editor, about his belief that any marginal rate of income tax higher than 36 per cent loses the government more money than it raises.

He cheated slightly at the end, when Sebastian Payne asked us what George Osborne should do in the Budget next week. He said: cut taxes for those on lower incomes. (I said: “Nothing.”)

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  It is not only politicians who selective memories when it comes to tax. Afghanistan was the more interesting story.