Which wrapper in an era of higher taxation?

The 2010 election has ushered in a new era of politics according to the coalition Government. Economically it may, perhaps feel like we have been here before and if so what can we learn from the past when planning for today’s clients. In 1979 Mrs Thatcher came to power with record levels of national debt. In 2010 David Cameron has inherited a record public sector net debt (PSND) of £890bn, equivalent to £35,317 per household. As a country the UK spent £155bn more last year (2009/10) than its income and it is this that the coalition is committed to reducing significantly. The Thatcher ...