Japan, it is often said, has low, US-style taxes with high, Swedish-style levels of provision. This is meant to be a bad thing, although I have always found it an admirable proposition.

Unfortunately, it is not true. Japan does have low taxes. According to the Organisation for Economic Co-operation and Development, its tax revenue as a share of output is just below 30 per cent, among the lowest of all advanced economies. That is roughly the same proportion as the US, with only Mexican and South Korean taxpayers less burdened.