Fraser Nelson highlights the work of the CPS on tax cutting proposals ahead of the budget in his Spectator column.
“The basic concept which JFK outlined in 1962 (speech here) remains: that a deficit caused by overspending is a sign of sclerosis, but one caused by tax cuts is transitory because the economy will be moving to an era of higher growth. The Tory leadership rejects this JFK logic, and will tolerate a corporation tax cut but no more. (This is a legacy from the 2005 Tory wars, where David Davis was attacked for his ‘unfunded tax cuts’ — a Brownite idea which, alas, stuck).
Other people have been planning pro-growth tax cuts, and Jonathan provided a handy list of them yesterday. I am personally drawn to those by the Centre for Policy Studies (see its brilliant Adrenalin Now paper).”
To read the ful article, visit The Spectator.
To read the paper by Ryan Bourne, visit the page of Adrenalin Now.
Date Added: Thursday 23rd February 2012