Why wouldn’t Downing Street rule out a wealth tax? It isn’t difficult, you just say “we will not introduce a wealth tax” and the show moves on.

Instead, when asked about the growing clamour in Labour circles for new tax aimed squarely at the well-off, Downing Street’s spokesperson simply talked about the need for “the wealthiest in our society to pay their fair share of tax.”

I suspect the government and I are at odds over what constitutes a fair share. The top five per cent of earners (£100,000 plus)........

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