Shepheard-Walwyn

Category: Blog

Tax Reform needed to avoid another spectacular crash

This week marks the 10th anniversary of the event that triggered the 2007/8 crisis and the ensuing Great Recession. But it need not have happened. In November 1997 Fred Harrison, author of Boom Bust and The Power in the Land, wrote to Prime Minister Tony Blair and his Press Secretary, Alistair Campbell, to warn them about a ‘housing crisis that would end up in a depression’. No notice was taken. Chancellor of the Exchequer, Gordon Brown, even boasted in each of his Budget speeches, including April 2007, that “we will never return to the old boom and bust”.

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To Tax or to Borrow?

This is the dilemma facing the British government – and many others – as they struggle to meet the rising costs of the welfare state while trying to eliminate the budget deficit. The options are either to increase taxation, never a popular move, or to increase borrowing. The cost of the former will fall on present taxpayers, the latter on future generations and the young of today who are being wooed by Jeremy Corbyn.

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Politics for the people, not just the privileged

Further Reading: From Here to Prosperity by Tom Burgess By Tom Burgess The British people want change, we voted for change. And we will continue to vote for change until we get it. Theresa May paid no heed to how the perceived...

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