In an open letter to The Financial Times, Ruth Lea, director of the Centre for Policy Studies, Matthew Elliott, chief executive of the TaxPayers’ Alliance, Henry Angest, chairman and chief executive of Secure Trust Banking group, and Sir Rocco Forte, founder of Rocco Forte Hotels, among others, wrote: ‘Rather than asking if we can afford to cut taxes, we should take the view that we cannot afford not to cut taxes – to discipline spending growth accordingly’.
They added that large rises in public spending and taxation had ‘not delivered commensurate improvements in public services’.
This follows efforts by the CBI to stop the Chancellor increasing corporate tax in this week’s pre-Budget report.
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