Chancellor scraps Treasury review of the tax system A Treasury review of the tax system that was designed to make Britain more competitive has been quietly scrapped by Chancellor Jeremy Hunt, sources have revealed. The wide-ranging evaluation was ordered by his predecessor, Kwasi Kwarteng, who pledged to “review the system to make it simpler, more dynamic, and fairer for families.” Officials had started the process, with an intention to use their findings to prepare for the next Budget. However, a Treasury source said Mr Hunt had dropped the review and it will not inform his tax and spending plans. many motorsport businesses would benefit from a review of a tax system that is 12 million pages long - overly complex and hard to comply with.