Once you hit a fiscal point of no return, the costs of macroeconomic adjust (either tax rises or budget cuts) become too politically costly and economically damaging to the fragile low equilibrium we have today.
We talk about working age benefits being unsustainably high alongside with the triple lock, but in many parts of the country itās these state transfers powering much of the consumption we see, supporting the firms who pay corporation taxes, business rates and employ people who pay income tax and NIC.
Serious readjustment would come with high political costs and economic turbulence.
Thereās a lack of people in politics with the appetite to face this.
I donāt think socialism = higher taxes, permanently. Itās about distribution of assets and the means of production š
But letās be real, Badenoch just hasnāt got backbone to talk about triple lock, various VAT exemptions or changing income tax threshold (which should be reduced)