Wednesday 2 November 2022 02:01 AM DAILY MAIL COMMENT: Burden of high taxes will damage Britain trends now
Only six weeks ago, the Tories promised an era of low taxes and high growth.
How the tone has changed. Rishi Sunak is now warning of a new age of austerity – tax rises for all and crippling cuts in spending.
The Mail understands the need for fiscal discipline. State spending has mushroomed alarmingly after Covid and the energy bailouts, and it must be reined in.
Public sector pay increases have to be realistic. Caving in to union demands for double-digit settlements – under threat of industrial action – would be ruinous.
And given the need for savings, the Prime Minister should stick to the plan to cut 91,000 jobs from the bloated Civil Service.
Only six weeks ago, the Tories promised an era of low taxes and high growth. How the tone has changed. Rishi Sunak (pictured visiting a hospital in Croydon, London last week) is now warning of a new age of austerity – tax rises for all and crippling cuts in spending
But in his desire to balance the books, Mr Sunak must not overdo the hair shirt.
Delaying the social care cap will mean more elderly people facing the injustice of selling their homes to pay exorbitant bills.
Meanwhile, families and business are already suffering from the cost of living crunch.
Mr Sunak must be careful not to increase their burden. The execution of Trussonomics was a disaster but the policies contained some fundamental truths.
The best way to avoid recession, while generating growth and prosperity, is to reward hard work and enterprise. And the most effective way to do that is to keep taxes down. This is not just uncontroversial – it should be in the Tories’ DNA.
The Mail understands the need for fiscal discipline. State spending has mushroomed alarmingly after Covid and the energy bailouts, and it must be reined in. Chancellor Jeremy Hunt is pictured
