Liz: There’s “No Doubt” Tax Cuts Will Grow Economy mdi-fullscreen

All the usual voices are squawking over Liz and Kwasi’s plan to cut taxes this Friday. This morning The Times reported on the Institute for Public Policy Research’s solemn warnings over cutting corporation tax, just as the blob and its sympathetic commentators sulked over the sacking of Treasury Permanent Secretary Tom Scholar earlier this month. The reversal of the National Insurance hike is already “unfair” on low earners, according to all the same people who attacked the rise in the first place…

Yet rather than kowtowing to the establishment voices who would rather the country staggers on with sclerotic growth and a 70-year high tax burden, Liz has instead doubled down – even warning that “not every measure will be popular”:

“We’re on the side of delivering a higher wage economy. That’s what we need to do. We’ll take every measure. Not every measure will be popular. There are always vested interests, people that oppose measures that increase economic growth. But what is important to me and what is important to the chancellor is that people have more opportunities, there is more investment, and there are jobs with higher wages. We’re prepared to make that argument. […] The number one thing we need to deliver as a government, and in fact as a country, is economic growth. Lower taxes lead to economic growth, there is no doubt in my mind about that.”

Making pro-growth arguments will require shaking off years of groupthink, both in the media and in Whitehall. Truss, like Thatcher, is actually prepared to do that…

mdi-tag-outline Tax cuts
mdi-account-multiple-outline Liz Truss
mdi-timer September 20 2022 @ 15:04 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
Home Page Next Story
View Comments