Just HOURS after Boris Johnson hinted at further tax hikes, Jacob Rees-Mogg condemns them.
Just hours after Boris Johnson refused to rule out more tax hikes, JACOB REES-MOGG warned that Britons are being taxed to “the limit.”
The cabinet minister said the Conservatives were “definitely” still the party of low taxes during a fringe event at the party’s annual conference. He claimed that British citizens were paying the greatest level of tax since World War II, and that any further rises would be detrimental to the country.
His remarks come after the Prime Minister stated that he would not raise taxes again “if at all possible.”
Mr Rees-Mogg said his party must continue to strive for reduced taxes while speaking at an event hosted by the Taxpayers’ Alliance.
“We must always be striving to make sure that money is spent efficiently and that the tax burden is appropriate, and we are at the top of the list,” he said.
“What makes you think that higher rates in the 2020s will have a bigger impact than they did in the 1960s and 1970s?”
“I believe we’ve reached the upper limit of what taxing can raise.”
“I believe that individuals spend their money better than the government does for them,” he continued, “therefore the government should spend less and the British people should keep more of their own money.”
However, he justified Rishi Sunak’s tax hikes, claiming that it was critical to ensure that “in the end the accounts balance” after record spending to keep the economy afloat during the pandemic.
“The Conservative Party has always had a contradiction within it between sound money and low taxation,” the North East Somerset MP remarked.
“We’ve always thought that in the end, the books balance, and we understand that borrowing is simply tax deferred, so if you borrow indefinitely, someone will have to pay for it.”
“On the other hand, as a nation, we must live within our means, which means paying taxes, which are presently at their highest level since the war in terms of percentage tax on GDP projected.”
The Prime Minister stated there was “no fiercer and more ardent opponent of unnecessary tax rises” than him on the BBC’s Andrew Marr Show this morning, but he had little choice owing to the coronavirus crisis.
“We’ve had to deal with a pandemic of epic proportions,” says Brinkwire Summary News.