Tories Shelving Inheritance Tax Cut

Guido is an unashamed tax cutter who prefers to cut the taxes of the poorest by raising thresholds and cutting the basic rate.  Nevertheless the Inheritance Tax cut promise was a welcome tactical success in that it contributed to Brown bottling the election in 2007, the strategic mistake that doomed his premiership.  The News of the World has been given a steer that it will be shelved (presumably by Andy Coulson, who according to Guido’s sources at the Screws, “acts like he is still the boss”).  Also shelved will be the commitments to cut Stamp Duty and to introduce a modest but symbolically important £20-a-week tax break for married couples.

It will be spun that the dire fiscal state left to them by Brown will prevent the Tories bringing in any tax reduction.  The expected onslaught from Labour on all these tax breaks will be more easily deflected if they take a “only when we can afford it” stance.  The trouble is, unless they slash the budget deficit they won’t be able to balance the budget in first term.  So when will the Tories be able to afford to reduce taxes?  What a depressing poverty of ambition, no bright new dawn, just a fiscal fog.

neilobrien_140x140This timid “give no ammunition to Brown and Balls” approach was first publicly advocated by Policy Exchange’s Neil O’Brien last month, he argued “Dropping the inheritance tax cut will earn the Tories the right to tell the public the terrible truth about the debt disaster.” The public already knows the terrible truth, there is only one way out of debt, you cut spending, there is only one way to grow the economy sustainably, supply side reforms and cutting taxes.  Nuancing the politics might spin well on the comment pages of the Guardian, it won’t bring jobs and economic growth.  Which is more important?




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Wes Streeting speaking in the anti-Semitism debate says Jewish leaders

“will be horrified by the response of our frontbench to this debate today”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Adam Spliff Institute Celebrates 420 Adam Spliff Institute Celebrates 420
Nick Timothy Leaves Twitter Nick Timothy Leaves Twitter
Owen’s Descent Continues Owen’s Descent Continues
Producer of Labour’s Race Row Election Broadcast Tweeted About “Jewish Kapos” Producer of Labour’s Race Row Election Broadcast Tweeted About “Jewish Kapos”
UK Tech Investment Surges 115% UK Tech Investment Surges 115%
Corbyn Forgets Israel Independence Day Corbyn Forgets Israel Independence Day
Thornberry: I Don’t Accept Russia Blocked OPCW Inspectors Thornberry: I Don’t Accept Russia Blocked OPCW Inspectors
Convicted Charity Thief Canvassing for Labour Convicted Charity Thief Canvassing for Labour
Anti-Brexit Bias of Former Top Civil Servants Anti-Brexit Bias of Former Top Civil Servants
Labour Candidate Deletes Website and Twitter Account Amid Anti-Semitism Row Labour Candidate Deletes Website and Twitter Account Amid Anti-Semitism Row
Bully Bercow’s “Medicament” Slurs Bully Bercow’s “Medicament” Slurs
Government Loses Lords Customs Union Vote Government Loses Lords Customs Union Vote
Gallery Guido’s PMQs Sketch: Mission Accomplished Gallery Guido’s PMQs Sketch: Mission Accomplished
Labour Candidate’s Think Tank Defended Ken and Jackie Walker Labour Candidate’s Think Tank Defended Ken and Jackie Walker
May: Labour Took Decision on Windrush Landing Cards May: Labour Took Decision on Windrush Landing Cards
Owen Jones Calls Out Labour Nepotism Owen Jones Calls Out Labour Nepotism
Ruth Smeeth Reads Anti-Semitic Abuse from Corbynistas Ruth Smeeth Reads Anti-Semitic Abuse from Corbynistas
Three Billboards Protest Against Labour Anti-Semitism Three Billboards Protest Against Labour Anti-Semitism
Unemployment Rate Lowest Since 1975 Unemployment Rate Lowest Since 1975
Maitlis on Pointless Syria Vote Maitlis on Pointless Syria Vote