ToUChstone post election poll (among others) has showed, there is now a clear majority in favour of ‘Maintaining decent public services even if that means my taxes go up’. This is a far cry from some of the rhetoric during the election campaign, when talk of ‘magic money trees’ was used to dismiss anyone calling for higher spending. But it’s important to recognise that there are two separate debates about how to fund public spending happening here. First, whether the public are willing to pay higher taxes in order to fund additional spending. And second, whether an expansion in public spending financed by borrowing, could, in fact, lead to higher economic growth, therefore ‘paying for itself.’ […]