Boris’ Tax Cut – It’s Eyecatching But The Wrong One

Boris Johnson is suggesting that he should mark his ascension to the throne by having a large and lovely tax cut. Yes, good idea, why not? However, he’s rather aiming his fiscal power at the wrong part of the income distribution. We do indeed want lower marginal tax rates because of that Laffer Curve stuff. And yes, it is a bit steep that the middle classes hand over 50% and more – when including NI – of their marginal income to the diversity advisers.…

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