Earlier this week, our friends at the Taxpayers’ Alliance revealed that the Coalition has been responsible for a net 180 tax rises since it came to power.
This breaks down to:
299 separate tax rises already implemented or planned before May 2015.
119 separate tax cuts already implemented or planned before May 2015.
These statistics clash with the kind of supply-side measures City AM editor Allister Heath called for in his Telegraph column this week.
Instead of managed decline - something Margaret Thatcher steadfastly refused to accept - Heath made the case for a radical tax-cutting agenda, to be financed by further spending cuts.
Piecemeal spending reductions, while politically less damaging in the short-term, cannot alone take the place of a coherent and credible plan for supply-side reform. Such a prospectus is vital in improving the long-term economic growth rate of the UK economy.