Where the Tories are headed is all very consistent with Barry Goldwater, who advised nearly a half-century ago, in The Conscience of a Conservative, that conservatives’ first priority on fiscal matters is fiscal soundness; that tax cuts should only be considered after spending is controlled. (For Goldwater’s exact words, reference pages 56-57 of this edition of his timeless tome.)
British conservatives have apparently listened to Goldwater. Sadly, Goldwater’s same-country heirs have, by and large, not. They are generally bonkers for tax cuts, regardless of the wreckage left behind.