City AM discuss David Laws' article in the new IEA Journal

The Liberal Democrats should fight to reduce the size of the state and cut taxes, according to some of its most prominent members.

The party must keep the faith with capitalism in the wake of the global financial crisis, David Laws MP has written in an update to the Liberal Democrats’ “Orange Book”, which pushed the party further towards liberal economic policies when it was published in 2004.

He said future governments should consider “a further substantial real rise” in the personal tax allowance, following the coalition’s move to hike this to £10,000 in the last Budget.

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