Siddiq adds that she is “very worried by the National Insurance hike hitting people’s pay packets this week.”
His Spring Statement was a missed opportunity despite some welcome measures – and further measures may be unveiled during the months ahead.
The criticism of him in the newspaper most read by Party activists took little account of the effects of war and pandemic on the choices he must make.
“Cutting taxes is not easy,” the Chancellor said with a sigh. It is, however, easier than putting them up.
The Chancellor should not feel constrained by the OBR’s forecasts into limiting the actions he can take.
Of the main tax cut candidates urged on the Chancellor, the best available is a VAT fuel reduction.
If the war lasts a few years at most, the Chancellor can take the hit. If it’s a new normal that lasts for decades, the outlook is grim.
Ministers must be prepared to use the Conservatives’ big majority, or there is no point having won it.
Clear milestones are needed to reassure people that action is being taken now to clear the backlog.
The fundamental problem is that costs are going up faster than we are getting more productive.
It is also clear that Rishi Sunak is positioning himself to be able to take over as PM.
Lifting the ban on them working will allow them to become tax-paying, economically active members of society.
It would lay the foundations for a more equitable tax system, as well as helping to boost post-Covid economic growth.
Figures released by the TaxPayers’ Alliance show that average household can already expect to pay over £1.1 million in tax over their lifetimes.
The second in a series of articles on how the Chancellor should approach the upcoming Spring Statement.