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:

The leadership election should not be allowed to hold up the urgent action needed to fend off recession. Cut taxes now.

— John Redwood (@johnredwood) July 7, 2022

Good to read the new Chancellor does want to cut VAT to ease the energy squeeze. Good to hear he might stop the big tax rises Mr Sunak planned against business. You cannot tax your way out of a threatened recession.

— John Redwood (@johnredwood) July 7, 2022

The last Chancellor said he believed in low taxes but he kept putting them up. Can the new Chancellor cheer us up and avoid recession by actually cutting tax?

— John Redwood (@johnredwood) July 6, 2022

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.

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