The problem is the inbuilt short-termism that affects every government.
The short-term benefits of low taxation are immediate, and benefit the government with re-election.
That's why we are where we are - decades of living beyond our means.
The necessary tax hikes needed to get us out of the economic hole we are in are a death sentence for the government who implements them, because the benefits are long-term and the electorate does not look at the long term, only immediate gains or losses to their income.
That means that each government would love to raise taxes and actually solve the issues, but aren't because the opposition would win, and reap the rewards.
That's why we remain where we are.
Everyone acknowledges that we have lived on free money for far too long, no-one wants to take the steps to adjust our attitudes - namely that if we really want decent health/education/social care etc, then we have got to start paying for it.
And paying a lot, now.
Hands up any party who will take that on as a policy ...