An excellent thread. One of the reasons for this switch has been the total abdication of the Treasury from its traditional role as the guardian of efficient tax policy. /1
UK tax has gone up significantly over the last 25 years
But the tax paid by the average UK worker has not
This apparent miracle was achieved by taxing “other people”: higher earners, capital, property, banks, etc
The strategy has run out of road
A 🧵 on what happens next.
