Budget comment: Overarching framework needed

The Budget was inevitably far more about politics than taxation. Changes in tax were modest and thoroughly overshadowed by deficit closing spending cuts tax rises already announced (in the PBR) and tax rises yet to come (after the election). And once again those of us who look out for pronouncements on the overall direction of tax policy came away disappointed though unsurprised.

This continues a pattern. Budgets and PBRs are usually rather short on big picture stuff. This is a shame: we surely need more attention paid to the way our tax system is developing more thinking about how we are really going to get a tax system that will work for the 21st century and for business and general taxpayers (and for that matter advisers and authorities) that have to work with it.

There is an opportunity here — and a...