He said: "When the money\’s piled up in the pot, then you give it away in tax cuts. It only makes sense to look at this over an economic cycle. You can\’t look at it in a single year, or even necessarily in a four-year parliament."
That\’s the new Tory Policy. Something of a sadness that it\’s informed by such an odd idea of whose money it actually is.
Cutting taxes isn\’t "giving it away", it\’s refraining from confiscating the money in the first place. The Shadow Chief Secretary still seems to be labouring under the misapprehension that it is the government\’s money which the supplicant taxpayer might be lucky enough to have showered upon him.
As long as you approach taxation from that point of view you\’re never goingto get policy right, are you?