Lower taxes, not higher taxes, to promote growth! – Sunak has issued a stern warning.

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Sunak issued a stern warning: “Lower taxes, not higher taxes, to promote growth!”

A leading economist has advised RISHI SUNAK to follow through on his claim to be the Chancellor of Low Taxes and make taxes “come down and stay down.”

“Government policy needs to be very bullish and boosterish,” Patrick Minford, chair of Applied Economics at Cardiff University, told This website.

After raising National Insurance contributions by 1.25 percent and freezing the income tax allowance for four years, he added, the Chancellor “didn’t need to raise taxes.”

The government claimed at the time that the increase in National Insurance would help pay for additional NHS funding, while the Treasury estimates that the allowance freeze will generate an additional £2.77 billion in 202223.

Professor Minford, on the other hand, believes the government “could have borrowed” for state investment because the UK’s national debt has always been “solid as houses.”

“It’s critical that the government creates an environment that supports an optimistic view of the economy,” he said. “To combat the forces of pessimism, you have to keep taxes low and promote growth.”

“The truth is that government policy needs to be very bullish and boosterish, and taxes need to come down and stay down,” Professor Minford continued.

“That isn’t going to happen because we had Rishi Sunak raise taxes and corporation tax, as we all know; he isn’t indexing income tax, but he is indexing national insurance.”

Then, at the conclusion of his budget, he says, “No, he wants to cut taxes.”

Mr Sunak lamented the need for tax increases in his Autumn Budget speech to the House of Commons in October, saying, “Last year, the state grew to be over half the size of the total economy.”

Taxes as a percentage of GDP have reached their highest level since the 1950s.

“I don’t like it, but I can’t blame it on it – it’s the result of the unprecedented crisis we faced and the extraordinary measures we took in response.”

“However, as we look to the future, I’d like to say this simple thing to the House and the British people: my goal is to reduce taxes,” he continued.

“I mean, who is he trying to perplex here? He’s just raised taxes,” Professor Minford responded.

“It makes no sense.”

“Brinkwire News Summary.”

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