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  David, a good read would be the economic system of Ancient Athens and how it evolved, including trade with the Athenian "Empire" (allied states in Greece). non allied states in Greece and with other states in general.
  They never had a Public Debt. There are various good texts on this issue, also available on internet free of charge.
  
  Unless we understand that all the ideas of cutting tax are not practical UNLESS we first affront the Public Debt issue, and the interest we all pay on it, we will not achieve any economic success as a Nation.
  
  Your idea of reducing tax is fundamentally right, but in the present situation we are in, it is not possible.
  Else Britain would have to default on the Public Debt repayments (plus interest).
  
  Take a look at modern Greece, which has a debt-based economic system like ours and that of many other countries.
  It is KO. Unlike that of Ancient Athens, and indeed many other Greek states, which flourished for centuries.

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