{"id":133198,"date":"2021-07-23T21:23:33","date_gmt":"2021-07-23T21:23:33","guid":{"rendered":"https:\/\/precoinnews.com\/?p=133198"},"modified":"2021-07-23T21:23:33","modified_gmt":"2021-07-23T21:23:33","slug":"boris-johnson-must-resist-high-tax-hikes-which-could-harm-economys-growth","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/world-news\/boris-johnson-must-resist-high-tax-hikes-which-could-harm-economys-growth\/","title":{"rendered":"Boris Johnson must resist high tax hikes which could harm economy's growth"},"content":{"rendered":"
BORIS Johnson\u2019s time as Prime Minister has been defined so far by an unprecedented crisis largely beyond his control. The rest, though, is his still to determine.<\/p>\n
His place in history is already assured. Since taking office two years ago today he has forced Brexit through a Remainer Parliament, brutally but \u00adbrilliantly. <\/p>\n
<\/p>\n
He has secured the Tories\u2019 greatest election victory in 32 years.<\/p>\n
And he has led Britain through Covid, making some mistakes but two masterful calls: The furlough, which saved countless jobs, and the early procurement and rollout of vaccines.<\/p>\n
But huge trouble lies ahead. A nation which reveres the NHS and welfare state has an innate weakness for big Government spending. So raising tax or borrowing is now No10\u2019s answer to every problem. <\/p>\n
Boris believes the public backs it. He knows it will spike Labour guns too. Neither makes it right.<\/p>\n
Voters didn\u2019t mind Gordon Brown spending like a drunken sailor either, until it exposed us to ten years of pain when global financial disaster struck.<\/p>\n
Thanks to Covid we have borrowed far more than Brown. Our tax burden is on track to become its highest since 1970, even without a mooted 1p National Insurance hike for social care or further taxes for unfunded Net Zero pledges.<\/p>\n
The Tories are historically the party which lets families keep more of their money. Now even veterans like William Hague urge Boris to ditch free markets and become Labour-lite on spending.<\/p>\n
The PM must resist. Low tax is behind massive success stories the world over.<\/p>\n
A high-tax economy will kill investment, jobs and growth. Voters may desire a splurge. They will detest the bill.<\/p>\n
Our problems need more creative thinking, not a lazy acceptance that an era of higher spending is inevitable.<\/p>\n
You can be a liberal Tory, Boris, without spending our money liberally too.<\/strong><\/p>\n THE vaccines\u2019 stonking success makes it even more depressing that three million young people remain unjabbed.<\/strong><\/p>\n New research reveals just one shot of AstraZeneca gives 87 per cent protection against needing hospital treatment. <\/p>\n Pfizer figures are very similar. And a PHE study says two doses of AZ provide 92 per cent protection. For Pfizer it\u2019s 96.<\/p>\n Yet a third of 18 to 29-year-olds haven\u2019t had their first. So Gareth Southgate is right to urge them to \u201cget it done . . . and get your freedom back\u201d.<\/p>\n Now that is a goal worth aiming for.<\/strong><\/p>\n PLENTY still want the Covid-hit Tokyo Olympics scrapped. Not us.<\/strong><\/p>\n The Games mean everything to athletes who sweated for years to peak at this moment. <\/p>\n And after 19 months of misery, the world needs a mood-lifter.<\/p>\n Come on, Team GB!<\/strong><\/p>\nTake the shot<\/h3>\n
It\u2019s Games on<\/h3>\n