By Jason Groves for the Daily MailPublished: 19:22 EST, 23 February 2021 | Updated: 19:53 EST, 23 February 2021Rishi Sunak should slash taxes in next week’s Budget to boost growth, a study says today. The Centre for Policy Studies urges the Chancellor to learn the lesson of history and avoid tax increases in the wake of a major economic disaster. The centre-Right think-tank said the US had enjoyed ‘near miraculous’ growth after the Second World War at the same time as slashing public spending by two-thirds. By contrast, the UK suffered years of austerity by maintaining high spending and trying to protect domestic industries from competition, it said. Report author Jethro Elsden said: ‘A key lesson from post-war recovery is that interventionist, high-spending policies lead to lower and slower economic growth.

Source: The Nation February 24, 2021 01:07 UTC