Cut taxes to avoid another recession, says ex-MPC member
Ex-Monetary Policy Committee member David Blanchflower calls on the coalition to cut taxes or risk a second recession
Taxes should be cut rather than spending or risk another recession, according
to former Monetary Policy Committee member David Blanchflower.
Blanchflower said the coalition government must offer workers a “tax holiday
” to encourage spending and growth, he wrote in an opinion piece
for
Bloomberg.
“Cutting public spending and raising taxes at this point in the cycle is
inevitably going to lower economic growth and raise the number of jobless. It’s
that simple,” said Blachflower.
He also wants national insurance contributions cut to 5% for two years ”
immediately”.
Further reading:
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