A line from Larry Elliott’s latest piece showing that of course the Tories are wrong on the economy:
Even so, the race to the bottom on tax is in some sense welcome.
If only we’d had such a race:
We have historically high taxes for the UK economy. More of everything goes through government than normal. So, what tax race to the bottom?
For a start, it validates the use of tax and spending as an economic tool.
What I assume Larry means is that this set of promises of lower tax is indeed a validation. Which is fine then, of course. Because lower taxation would indeed be a validation of the idea that less government is beneficial.