Fascinating. Upshot: Higher taxes in UK in coming years are not going to pay for new spending; they will pay for drawing down debt for a spending increase that happened in pandemic and stuck.
Absent GDP growth, it won't create a great dynamic between voters and politicians.
UK tax is going to be the highest since 1945. But public spending won't increase; in fact most of us will experience a decline in public services.
Here's why - in a thread that I'd love to be completely wrong.