The government is unpopular because the economy is in the doldrums, not for its tax policy, as previously. The non-dom heat is off, the CGT row is over. A boring budget has been successfully delivered.

This, though, is a dangerous time for the government’s tax policy chiefs. With the finance bill due to be published today, there are still some important technical issues to be ironed out. A few things stand out.

The details of the residence and domicile review will be pored over by advisers and lawyers. Not necessarily to advise their clients whether to leave or not, but amid the threat of far greater damage to the UK economy.

There is a suggestion that the UK’s wealth managers might be prevented from managing non-dom money, on the basis that having a UK investment manager means they have ‘remitted’ their offshore income. This would do immense damage to the private client wealth management industry, a not inconsiderable part of City work.

On top of that, the taxman is hoping to take vast new powers to enforce tax rules.
While it is important to support HMRC in its attempts to stamp out frauds, the taxman does need to know that this debate has gone too far in one direction.

When the revenue and Customs & Excise merged, spokespeople pooh-poohed the idea that this would see the world of direct tax become more brutal and hard-hitting.

That is exactly what has happened, and the promised taxpayers’ charter has yet to materialise.

The taxman is taking a lot ­ it has to give a little too.