As we’ve seen with the Winter Fuel Payment disaster, Reeves isn’t half as clever as we’ve been led to believe. Her political instincts are all over the place, and I’m not convinced by her financial ones, either.

She has this naive idea that if you increase a tax, you automatically increase the revenues it generates.

This appears to make sense, until you examine it for a moment.

Taxpayers are panicking and many are taking evasive action to minimise their exposure. The result is that tax…