Chancellor Rishi Sunak has been urged to slash and simplify taxes in order to stimulate the UK economy and boost the nation's recovery from the coronavirus crisis. In 1993/94 the income tax system was divided into three rates as it is now but the rates were different. Economic markers from the 1993/2003 period suggest the UK economy was in good health. AdvertisementThe IEA open letter, signed by 30 economists, academics, business people and politicians, comes less than two weeks after Mr Sunak unveiled his Winter Economy Plan. In the open letter to Mr Sunak, the IEA said: 'Governments have choices.

Source: Daily Mail October 05, 2020 08:26 UTC