Labour’s chosen to go for tax as their first attack line of the new year. On top of their “Tories’ 25 tax rises” figure the party has now launched a new “Tory tax calculator” in which people can look at how much more they’ll pay in 2027/8 thanks to frozen thresholds on income tax and national insurance. Labour is pointing out stealth tax rises are raking about five times more for the Treasury than Hunt’s Autumn Statement tax cuts are giving back. Guido looks forward to a Labour pledge to index tax rates to inflation…

Meanwhile Darren Jones has specified this morning that Labour’s favourite phrase, “working people“, actually means everyone who works or pays taxes. So pledging to cut taxes for them means for the better-off too. With tax rates at an all time post-war high, it’s hardly a surprise Labour are going in on this, despite their own dismal record…