He must reassure the country that austerity will not return: a tax on property assets, however unpopular, would be an answer
It is clear from Rishi Sunak’s recent statements that he wants to defer any talk of tax rises until at least next year. The chancellor is minded to ignore the pressure from many of his own backbenchers to deal with the government’s spending deficit while the health crisis is still in full swing.
And he can feel comfortable that his stance has broad support following assessments by the International Monetary Fund and the Organisation for Economic Co-operation and Development, both of which have backed unrestrained Covid-19 spending.
