Accountants might be forgiven for thinking that the run-up to a general election is not usually a golden period for the formulation of sensible, long-term tax policy. While sympathy for politicians is not the de facto position, this is to some extent understandable: elections are rarely won on tax policy, they are often lost.

This election is no different. The main parties have been quick to rule out rises in some areas of taxation, often to their potential long-term detriment, but have been less forthcoming on tax hikes or detail around any kind of restructuring of the tax system.