Today, Dr Liam Fox MP delivered a speech to the Midlands Industrial Council entitled ‘Pruning for Growth: The case for tax cutting’.
In it he stated that, ‘The Government has made a good start with reductions in corporation tax and personal tax cuts for millions of individuals. We need more, and dramatic, follow-up.’
He then went on to say that, ‘Rebalancing Britain’s economy should be about promoting manufacturing, not attacking financial services. Those, especially on the left, who think the answer to our economic woes is attacking one of our most successful industries, have been too long in the sun.’
And finally Dr Fox argued that, ‘Quite simply, we can’t get consumer led growth because their credit is maxed out. We can’t get government spending led growth because we are reducing the deficit with an eye to actual debt reduction in the future. We therefore need to unlock the money locked in the ice caps of our own economy and attract inward investment from abroad.’
To read Dr Fox’s speech in full please follow the link provided:
click here to download Pruning for Growth