Stephen Crabb, a former Welsh secretary, said on Monday that the race for No 10 had descended into a tax cut “bidding war” that should not be taken seriously. Paul Johnson (@PJTheEconomist) Claims that tax cuts are “funded” by headroom against borrowing target are absurd. This would follow a pattern of successive Tory prime ministers and match Ireland with one of the lowest business tax rates in the world. Corporation tax cuts can also prove costly. Dominic RaabTax proposal: Cut basic-rate income tax from 20% to 15%.

Source: The Guardian June 10, 2019 14:15 UTC