In the wake of our economic recovery, it is crucial to recognise the important role SMEs play in the nation’s prosperity
With better cost controls and an attack on some of these areas of needless spending, Sunak and Hunt could show how you get more public services for less – and free up money for tax cuts too.
Introducing duty-free arrivals would support local economies, enhances the international competitiveness of our airports and aviation sector, and offers greater convenience to consumers – all without burdening the taxpayer.
Still, the argument that tax cuts themselves lead to growth is one that the Conservative Party hasn’t been used to making since the days of David Cameron Mark One.
We are fed up with being controlled by its incorrect forecasts, and subject to wild policy swings by the Bank of England which did much to give us inflation in the first place.
Blaming the OBR is easier than acknowledging that some elements on the right have had a central tenet of its thinking rejected. Tax cuts don’t always pay for themselves.
Combing an income tax cut with a reduction in stamp duty could form an obvious sequel to Hunt’s Autumn pairing of a reduction in national insurance with permanent full expensing.
The longer Number Ten fails to declare, the more cheerfully Labour will pile in – preparing to frame the Prime Minister as a bottler if he waits until after the Budget to rule out a May poll.
Electoral desperation is never a good place from which to make major decisions on the future of our tax system. There are better, more cost effective, ways to show the Government is aligned to the public’s priorities.
Monday’s speech and today’s announcement show them choosing their ground for the next election. And since Hunt may find no money for further tax cuts next spring, the option of a May general election is opening up.
Having chastised Bailey for being too sluggish in raising rates, I’m hesitant to let him fall back on bad habits too soon – especially if a looming war in the Middle East sends inflation spiraling once again.
82.5 per cent of all jobs in this country are in the private sector. Of these, 61 per cent are in the SMEs – small and medium-sized enterprises. In other words, over 50 per cent of all jobs in the United Kingdom are now in small businesses.
The expensive subsidy creates a domestic training bottleneck, whilst this country’s demand for healthcare workers is met through immigration.
The evidence from the local elections is not that the voters are abandoning the Tories to back Reform or Ukip , but parties of the centre and the left. Their situation is bad, but it can be made worse.
In terms of fiscal policy, if the wider economic picture does not allow the debt to GDP ratio to fall, then the focus of the markets will be on the need to keep the public finances in shape.