Skip to content
City PM
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
  • Germany
  • France
  • Europe
  • Markets
  • Business
  • Opinion
Thursday 07 March 2024 5:00 am  |  Updated:  Wednesday 06 March 2024 8:35 pm

The Budget shows signs that the election won’t be complete procession

By: Andy Silvester

Add as a preferred source on Google
Record-level demand for tax lawyers as Spring Budget pointed out as driving factor

Well, it wasn’t overly dramatic, but it wasn’t bad either.

Reading between the lines in yesterday’s Budget however does give some cause for optimism that the election will not be a complete procession – and regardless whether you’re one of the three remaining people in Britain planning to vote Conservative or a dyed in the wool Labour apparatchik, a proper contest is vital for testing out the next party of government. 

For a brief moment yesterday, it appeared as if the Chancellor might be about to merge income tax and national insurance. Such a move has been on the wishlist of radical tax reformers for years; the sort of people who perhaps might not always be the best company at dinner parties but who look at a tax code that only increases in complexity and think about ways to make it easier to comply with, and indeed enforce.

Last night it was made pretty clear that such a move would likely make it into the Conservative manifesto, which suggests that the party has not completely given up on the sort of radicalism necessary for them to turn around a 20-point-plus poll deficit. 

With the chance of a May election now all but zero, the government will need to drum up a fair amount more like that if they’re to do so. For all the ‘retail politics’ offers that will be necessary – and they will be – there are a raft of people in this country who are ready to listen to someone being honest about the challenges the country is facing. Wes Streeting, the shadow health secretary, has won fans by refusing to drink  the ‘our NHS’ kool-aid.

It is harder for the government to take a similar approach to the myriad other third-rails of British politics, but not impossible. And it would have the added benefit of smoking out exactly what Labour might do instead. 

Read more

A bank tax hangs in the balance at the local election ballot

Angela Rayner addresses the media, discussing current political developments and her role in shaping policy decisions.

Share this article

  • Facebook
  • X
  • LinkedIn
  • WhatsApp
  • Email

Similarly tagged content:

Sections

  • Opinion

Categories

  • Business
  • Opinion

Trending Articles

  • Top Burnham adviser calls for capital gains and inheritance tax hikes

  • A meeting with the breakfast king of Mayfair

  • Housebuilding giants hit with £4.5bn lawsuit for allegedly overcharging buyers

  • As it happened: Stocks jump on defence and metals boost; Oil on track to shed a fifth on US-Iran peace hopes

  • BT tops FTSE 100 after finding new home for international business with Verizon joint venture

More from City PM

  • A bank tax hangs in the balance at the local election ballot

    Banking
    Angela Rayner addresses the media, discussing current political developments and her role in shaping policy decisions.
  • Jenrick vows to partly undo Reeves’ £25bn employer NICs rise – for Britons

    Politics
    UK politician Robert Jenrick announces new tax cut policy at a press conference, standing at a podium with a flag backdrop.
  • London local elections results 2026: Labour lose Wandsworth council 

    London
    Voters casting ballots at a London polling station during local elections, with election officials assisting the process.
  • Reform UK vows to raise VAT threshold to £150,000

    Politics
    Nigel Farage, leader of Reform UK
  • London Local Elections 2026: Who will win in Greenwich?

    London
    Voters casting ballots at a polling station in London during a local election, with people waiting in line.
  • London luxury property at mercy of Labour chaos, not Iran war

    Property
    Capital gains tax is not currently charged on primary residences. (Credit Beauchamp Estates)
  • Burnham vows to cut the price of a pint as he turns on Labour tax rises

    Hospitality
    Pints of Guinness on a bar counter in UK pub, highlighting traditional British pub culture and popular beer choice
  • London makes up more than a third of UK corporation tax receipts

    Economics
    London skyline with modern skyscrapers and lush green foliage in foreground on a clear day, highlighting urban nature balance

City PM — European politics, business and analysis.

Europe

  • Germany
  • France
  • Europe
  • UK & Ireland

Topics

  • Business
  • Markets
  • AI
  • Technology
  • Opinion
  • Energy

More

  • Politics
  • Economics
  • Fintech
  • Legal
  • Sport
  • Life

Company

  • About City PM
  • Editorial Policy
  • Corrections
  • Contact
  • Terms of Use
  • Privacy Policy
  • Cookie Policy
© 2026 City PM · Published by CityPM Media, Bahnhofstrasse 65, 8001 Zürich, Switzerland
About · Editorial Policy · Corrections · Contact · Privacy