The Last Supply-Sider Felled
Jeremy Hetherington-Gore Unleashed
21 August, 2007
The party's still youthful John Redwood, who last held office unimaginably long ago in the days of supply-siders (remember Newt?), reminded his colleagues that cutting taxes stimulates an economy. But the cloth-eared shadow cabinet is stuck in an even more ancient time-warp where they rub shoulders with Ted Heath and Harold Wilson.
There is plenty of evidence, even in Europe, that low, flat taxes are economically empowering, in Ireland, Russia, Iceland, Estonia for instance. But few politicians are economists, and they normally prefer spending money to saving it. For a politician, more tax equals more bureaucrats, more pork and more power.
So the UK will continue its graceful decline into irrelevance, presided over by ever more expansive spending ministers delivering ever more expensive and ever less effective public services. This sad process was briefly interrupted by the Blessed Margaret, but the benefits from her reforms have now been blown away by a series of uncomprehending successors, both Tory and Labour.
'The bright day is done; now we are for the dark.'
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