Chancellor Sunak's mini-budget yesterday seemed to be aimed at stimulating the housing market and helping those who habitually eat out. However, though the stamp duty cut finds favour with the neo-liberal think tanks, as well as with the Mail as one might expect, the Express is a bit sniffy.
The cut in VAT, though limited in time (which would make it permissible under EU rules, if we were still in the Union) and scope, goes against the conservatives' traditional affection for regressive taxes. The chancellor appears to have realised that cutting taxes on income encourages the well-off to save more rather than spend more. Apart from that, the statement appears to appeal to the Conservative core vote, rather than addressing the real troubles in our economy.
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