A line from Larry Elliott’s latest piece showing that of course the Tories are wrong on the economy:
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Even so, the race to the bottom on tax is in some sense welcome.[/perfectpullquote]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?
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]For a start, it validates the use of tax and spending as an economic tool.[/perfectpullquote]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.
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Meanwhile, the French have found something else not nailed down and taxed it, introducing an online sales tax. Is the French government really so short of money? Can't they just wait a few months and start taxing Frenchies who want to buy British goods?
Oops, no, that money goes to Bussels.