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 Policy
In the first piece of a mini-series, our guest author also argues the Government should look again at IR35, and make it more worthwhile to work.
They keep changing. But does it matter? For the last 30 years, when it comes to the public finances, the diet always starts tomorrow.
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.
Who will their taxes really hit? How much will they truly raise? And can this really be described as a ‘moderate’ agenda?
Corbyn has made it safer to indulge the Tory leadership’s willingness to spend. But there are signs of at least some restraint.
Their manifesto doesn’t provide any costings for their most expensive plans. The IFS says their tax pledge is not believable. But will they get away with it?
The CBI provided the stage for the Prime Minister, but he treated them mean to keep a very different audience keen.
The second piece in our series this week about what the Conservative Manifesto should look like.
Marr criticises the Conservatives for “spending money like water” in a way they formerly criticised Labour for doing.
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.
The approach – and the role of the Chancellor in the forthcoming election offer – has changed markedly.
“Britain’s hard work has paid off,” the Chancellor told the Commons.
Almost certainly not for the advertised year. So ministers will likely swallow any short-term frustrations or restrictions.
Keep them low where possible; find the optimal point on the Laffer Curve; avoid taxes which are expensive to collect; and undo the harm of Stamp Duty and Inheritance Tax.