"I think the tax burden is necessary as a significant contribution to getting the country's finances in order ... So it will have to stay at that level for quite some time."But is that too optimistic?
For some time Michael Portillo has been saying on This Week that he believes if will be difficult politically for the Coalition to make spending cuts on the scale it is planning.
If that is right, and cutting the deficit remains the priority, then not only will there be no tax cuts, tax rates will have to increase.