We are in danger of losing sight of the simple truth which has been a favoured phrase of Tory politicians through the ages: borrowing today is simply taxation deferred.
Posts Tagged: Fiscal conservatism
Today’s pledge of a swift Tory National Insurance cut is welcome, but more importantly it sets the stage for an attack on Corbyn’s tax grab.
Corbyn has made it safer to indulge the Tory leadership’s willingness to spend. But there are signs of at least some restraint.
The heated debate about fiscal policy a decade ago is often forgotten. It matters that the former Prime Minister now acknowledges he came down on the wrong side.
“Austerity” has been blurred and misused as a term. If everyone takes its end as a promise of whatever they fancy, it will soon get costly and risky.
Alex Morton: A win for those spending Ministers would be a defeat for the taxpayer – not just Hammond and Truss
The Comprehensive Spending Review has to be seen as a way to reset the narrative. Government need to focus on reform as a positive – not expenditure.
British commentators who jumped to condemn his decision as a travesty of democracy failed to understand the country’s constitutional traditions.
It might please nurses, but provokes new pay demands from teachers, doctors and soldiers. Nor would a hypothecated ‘NHS Tax’ make the issue go away.
It’s later than Osborne planned, but good news nonetheless. Now Hammond must hold the course, and resist siren calls to start splashing the cash.
No council has ever held a referendum on tax rises over five per cent. Javid’s decision to raise the cap means taxpayers will be hit without the democratic chance to object.
The latest council leader to vote to increase his own allowances talks of himself as a business leader, not a public servant.
We can already see the damage being done to the Tory vote by the uncomfortable prospect of a near-permanent twilight state of austerity.
Garvan Walshe: The Taylor review is a distraction. The real problem facing Britain is that our Welfare State is bust.
Uncomfortable though it is to admit, we run our public finances like a Ponzi scheme. The only way out of this mess is to improve our terrible productivity.
Politicians who support fiscal discipline are not protecting their own interests – they’re guarding the interests of others.
Daniel Hannan: Sooner or later, you run out of spending other people’s money. And it’s young people who foot the bill.
The left cries “Growth not austerity”. Seriously, comrades, if it were that easy, don’t you think someone would have done it by now?