Government Spending Must be Cut
In response to the state-induced cost of living crisis, there have been prominent calls to cut the rate of various taxes that the state imposes upon its working citizenry. One such area where this has been most pronounced in the UK is the rising cost of petrol, in which fuel duty and VAT can amount to up to 40% of the price paid at the pumps.
Prominent in this regard has been Conservative MP John Redwood, whose Twitter account pretty much reiterates the same, daily message like a long playing record:
However, while cutting taxes is always welcome, it will be next to useless in improving economic conditions unless it is accompanied – or even led by – another, very critical step: making drastic cuts to government spending.