Why don’t we just abolish the income tax?

Whew! In a bold statement of intent, the Tories said today they “will consider” cutting taxes. Wear them medals with pride, boys. You’ve earned them. Predictably Labour are calling proposals – mere proposals, not policy mark you –  to trim a mere £14bn from government spending a “lurch to the right” that would leave Britain in some kind of mysterious financial “black hole”.