Tax and Fiscal Policy

The Tories are no longer the party of low tax


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Tax and Fiscal Policy

Annabel Denham writes for The Telegraph

The government has announced that National Insurance Contributions will rise by 1.25 per cent to cover the cost of social care.  Annabel Denham, IEA Director of Communications, suggested in an op-ed for The Telegraph that this policy announcement is a symptom of the great political realignment we have seen since 2010, in which voters value identity over economics.  It means the Conservative Party is no longer the party of low tax and will continue to ignore the adverse effects of increased taxation for electoral gain.

Annabel argued: “That yesterday’s social care debate centred around which was worse – the NI hike or a wealth tax – shows just how far we’ve moved away from free market economics. As much as Johnson insisted he was keen on lowering taxes in a press conference last night, the overall level of taxation is likely to be higher than it has been since Clement Attlee was Prime Minister“.

Read the full article here.

 



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