Tax cuts will increase sustainable economic activity

Sky News reports on Liam Fox's speech at the IEA

Senior Tory Liam Fox has called for a five-year spending freeze to fund tax cuts and help slash the deficit as Conservative tensions continue.

In an address to the Institute of Economic Affairs, Dr Fox said: "I believe that in leaving money in people's pockets, economic activity will follow. People will buy houses, invest for their future or just go shopping.

"Whichever is the case, it's creating a society that is sustainable for the future in the way that our current - welfare dependent and debt-ridden - economy is not.

"We should gradually move towards the reduction - or even abolition - of the taxes where the state not only taxes the same money on multiple occasions but discourages the very behaviour that would lead to a more responsible society." 

Read the full article here.

Invest in the IEA. We are the catalyst for changing consensus and influencing public debate.

Donate now

Thank you for
your support

Subscribe to