Fair comment. But why are you advocating tax on someones 'own house'? Is it because you think it would keep property prices in check? Or because you think it's a source of income that should be taxed? Or some other reason?
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Unfortunately we'll never know what cuts New Labour might have introduced had they won the last election. Cuts were required to reduce the deficit, however, I wouldn't have put it past them to stick their heads in the sand for another 5 years and carry on borrowing and printing money.
We need to wean ourselves off oil, then we can take a more objective view of the world.
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