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July 16, 2009

Tim Montgomerie's tax plan

Tim Montgomerie provides a very useful summary of possible Tory moves on tax. But he accompanies it with this repetition of his position:

I stand by my view that there should be no tax rises until possibilities for savings in the massively-expanded Labour state have been exhausted.

So I suppose I need to repeat my response.

It won't work like that. Sensible cuts, based on reform rather than just squeezing everything, take time. You need to bring down the debt fast. So if you need tax rises at all, you need them first.

It will be years and years before you have identified, let alone exhausted, all the possibilities for saving.

Posted by Daniel Finkelstein on July 16, 2009 at 05:29 PM in Conservative Party | Permalink Bookmark and Share

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Tim Montgomerie's tax plan

Tim Montgomerie provides a very useful summary of possible Tory moves on tax. But he accompanies it with this repetition of his position:

I stand by my view that there should be no tax rises until possibilities for savings in the massively-expanded Labour state have been exhausted.

So I suppose I need to repeat my response.

It won't work like that. Sensible cuts, based on reform rather than just squeezing everything, take time. You need to bring down the debt fast. So if you need tax rises at all, you need them first.

It will be years and years before you have identified, let alone exhausted, all the possibilities for saving.

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