I am not talking about the excessive burden of income tax loaded on middle income earners, but about other taxes cut in other areas, including the unnecessary cutting of the top rate of income tax. That is the problem we now have. The Government could have followed the logic of George Bush and Margaret Thatcher and cut public expenditure to the measure of the tax regime in which it believed, or it could have ensured the expenditure regime was matched by the level of taxation and, therefore, avoided some of the wilder aspects of its tax cutting frenzy. It had a choice and chose to do both. Hence our crisis.