Tories should champion the aspiring, daredevil and risk-takers to fight inflation and downturn

THE Bank of England could not control inflation. Now bank and finance officials are telling us that we need a recession to bring inflation down.

The chancellor made a mistake in taking her bad advice. The new enemy is burglary.

2

2

What we need is to support all the people who work hard, pay their own living, create jobs and run their own businesses.

People who want to take care of their own families and get by in the world should be supported.

You don’t deserve a tax increase as punishment for facility failure.

The Conservative Party must stand up for the aspiring, daredevil, risk-takers, entrepreneurs and skilled workers.

The way out of inflation is to produce more to end shortages.

Instead of blocking the production of our own oil and gas, the government should offer the licenses and encouragement for much more domestic production.

It’s crazy to import gas from abroad that produces more CO2 than using our own.

Why is it ok to have fracked gas from the US but not somewhere in the UK away from homes?

Instead of spending taxpayer money paying UK farmers not to grow food, we should invest in more greenhouses, polytunnels, grain harvesters and the rest to grow a lot more of what we eat.

Why tax us more to let farmland run wild? We should till more fields and grow more vegetables to replace unreliable supplies from abroad.

Why offer grants to plant more trees for exhibitions when we import most of our wood from abroad?

There should be more native wood to build our homes, fuel our power plants, and for furniture.

Utility bill has skyrocketed following the Covid lockdowns. We don’t want just one review, as the government is proposing.

We want immediate action to make it worth postponing benefits. There are many jobs.

Everyone who gets up to work expects others to look for work and take them where they can make it.

Urgently legislate

We should legislate urgently to stop the flow of illegal entrants. The hotel bills to accommodate them are unacceptable and should drive a fresh approach.

The first priority for this new government has been to get £11 billion through a vote this year so the Bank of England can sell off a slew of investments at a loss, with taxpayers footing the bill.

All opposition parties agreed. It’s pretty wrong. Tell them not to sell to save us the cost. The investments will be worth more if they are held on redemption dates.

Fighting the recession means cutting taxes. Reduce VAT on fuel while reducing price hikes.

Get rid of the self-employed tax penalties and we will have more people supplying us with goods and services.

If we lower our business tax rates, more will come here and reinvest their profits here in new capacity and jobs.

Each time the government has lowered corporate tax rates, tax revenues have increased as more companies come here and grow here.

As a result, Ireland, with much lower tax rates than we do, gets a larger part of its tax revenue from corporate taxes.

People didn’t vote Conservative in 2019 to have high taxes and lavish public spending.

You didn’t just vote for Brexit for the sake of Brexit.

We voted Conservatives for Brexit gains through lower taxes and smarter rules to unleash entrepreneurship and boost prosperity.

We wanted energy and green products to be exempt from VAT, we wanted fisheries and agriculture policies that rebuild our domestic industries, and we wanted to be free to trade with the rest of the world on better terms.

compensate damage

Covid has set us and the rest of the world back. The Bank of England made the same mistake as the European and American central banks by printing too much money and keeping interest rates too low, triggering inflation.

Now, conversely, they must not overdo it and plunge us into a crisis.

The government needs to offset some of the damage that tight money is now doing with selective tax cuts and support for more investment in the UK.

I can’t believe the Prime Minister wants to fight an election with promises of tax increases and austerity measures to come. That will not woo voters back. So why not start making the change now?

We need less wasteful public spending, lower taxes and adequate support for business. That would be good economics and even better politics.

Without the aspirants and savers, an election victory is unlikely.
I see that the government wants tax increases mainly in secret.

They let inflation do the work by taking more taxes from us by not increasing the tax-free allowances and the bands for higher tax rates.

In doing so, they avoid a parliamentary vote on this issue at a time when many Conservative MPs, myself included, have no desire to raise public taxes.