Free marketeers are reluctant to consider higher taxes to pay for the government’s current corona-related spending but they should be “more allergic to the narrative of fiscal stimulus, with its subliminal message that we are getting something for nothing”, says Professor Philip Booth, Senior Academic Fellow at the Institute of Economic Affairs.

Writing for CapX, Philip argues that arguably the government has made the right spending decisions but we must be honest that “printing money, taxation, or borrowing are the only options for financing it”.

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