OPINION - Tax cuts in this economy? This Tory obsession is a fiscal scorched earth strategy aimed at Labour
How can a nation that has enjoyed no productivity growth in 15 years, is still reeling from the economic shocks of Brexit, Covid and Russia’s full-scale invasion of Ukraine and where debt is equivalent to 100 per cent of GDP, afford sweeping tax cuts? The short answer is: it can’t. The longer answer is the same, but involves several hundred words about the internal dynamics of the Conservative Party.
Last November, the Chancellor, , cut taxes. Not by as much as he-raising parliament in history. But by taking 2p off the main rate of National Insurance, he pulled the trigger on the Tories’ general election strategy. .
