sigh will any government or prospective government say that they'll pay down the national debt as a policy pledge and actually stick to it? I don't particularly want tax cuts, I want shit to actually work in this country.
this post was submitted on 25 Jan 2024
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Speaking from Canada here, based on what I've seen from our politicians I'm not sure you would want follow through on that... both Liberal (centre-left) and Conservative parties have done stints to "balance the budget" which simply involve selling off wholesale a major public asset (a toll road, our electric company to name a couple).
I'm aware a lot of the big stuff was already sold off over the last 40 years, but still many a politician and investor are licking their lips for a slice of the NHS...
This is the best summary I could come up with:
Promises of tax cuts during general election campaigns may have to be rolled back as the UK economy faces some of its worst problems since the 1950s, a new report suggests.
The warning comes after Chancellor Jeremy Hunt insisted he did not make "crowd-pleasing" tax cuts as giveaways ahead of the next general election in his Autumn Statement in November.
The UK is in the midst of a cost-of-living crisis after inflation - the pace at which prices rise - hit double-digit figures.
Economic growth has also been slower, with new challenges on the horizon resulting from attacks by Houthi rebels on ships in one of the world's busiest trading routes in the Red Sea.
A spokesperson for the IFS cited the example of the University of York which was reported to have lowered its entry grade requirements for foreign students in the face of "financial challenges".
The Treasury said its action to "halve inflation and ensure debt falls as a share of the economy means we are now beginning to turn a corner, which is why we can afford tax cuts for 27 million working people this month".
The original article contains 792 words, the summary contains 189 words. Saved 76%. I'm a bot and I'm open source!