Low tax/low spending rhetoric is fiscal fiction

It’s true that the Chancellor’s pre-election splurge unveiled in this week’s Autumn Statement was the biggest tax-cutting package since 1988. But the reality is that the tax burden is still set to rise to its highest since the early 1950s. And there are big question marks over whether the Chancellor's tough spending plans will be achieved. So while the Conservatives are trying to position themselves as a low tax/low spending party, it is difficult to escape the conclusion that the size of the state will rise whoever wins the next election.