In an ideal world our taxes would be far lower and infinitely simpler. And in that world a trade off would definitely be fewer reliefs and deductions.

But that will be the far side of a government which was serious about cutting welfare and the size of the state - and in the U.K. right now that’s as unlikely as a sovereign space mission to Pluto.

The Telegraph article below says it all. The penny pinching Chancellor undermining a useful scheme that channels risk capital into scale up businesses.

From Rachel Reeves we expect this sort of penny pinching. But especially disappointing is the deafening silence from some of the so-called business or entrepreneur advisers around the Chancellor or other departments.