Clegg : “I Like Being a Punk Tax Cutter”

The Fink has generously given space to Clegg on his blog to argue the LibDem case for tax cuts. Which seems fair enough given the argument we have been having has featured Clegg’s proposals quite centrally. Danny has mocked Clegg, claiming tendentiously that that the Tories would reach LibDem levels of popularity if they advocated tax cuts. Clegg has come back all guns blazing:

Danny Finklestein is wrong, and cutting taxes is right, and here are some reasons why: Danny thinks that offering people on low and middle incomes a tax cut is a ‘con’- a short term promise intended to fool voters…. Growth is what we need now. Funded tax cuts help give us that. Without growth there’s no earthly way we’ll be able to balance the books over the economic cycle. Far from being irresponsible, as Danny alleges, tax cuts at a time of recession is the responsible thing to do… Why does Danny think it’s impossible after a decade of spiralling Whitehall spending to find 3% of that money that could be put to a better use? That’s what Gordon Brown says – the Government knows best, and the rest of us are not allowed to question the way he spends our money…. this isn’t about the media. It is about being clear and bold on what is needed at a time of growing economic distress. I may have failed to persuade Danny, but I suspect time will prove me right.

Exactly. Growth is the only way out of recession. Stimulus has to be more than just about monetary policy. Danny’s focus on the politics of a tax cut has blinded him to the economic imperative.

UPDATE : Fink fisks Clegg here. Danny has just emailed to say “drawing a party leader into a bloggers debate between you and me is a signal that Hazel Blears is wrong.”




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Shadow Education Secretary Angela Rayner:

“We have no plans to write off existing student debt.”

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