As the end of lockdown appears to be in sight, the Government must now take the bold action necessary for our economic recovery.
Party Leader Chris Mendes outlines the party’s chief economic priority at this crucial time.
To recover from this disaster we need rational and decisive action, not more panic.
Let’s be clear. We must not raise taxes. We should declare every tax frozen, unless being cut, for at least two years. Businesses and households have been severely destabilised, what they need now is a period of uninterrupted certainty and stability.
Moreover, all businesses that have been forced to close should be entirely exempt from paying their business rates for at least two years. These businesses need a serious short-term break so they, and our economy, can recover and return to normal as swiftly as possible.
Now is the time for politicians – national and local – to recognise that the people will be the heroes that revitalise our economy, not the politicians.
No to any tax rises whatsoever. Yes to tax freezes and tax cuts. Give us a break. Get out the way. And we’ll get back to work and do what needs to be done.
Naturally, today’s so-called “conservative” politicians do not see it that way. The Chancellor’s budget has on Wednesday announced a range of measures including a substantial rise in Corporation Tax from 19% to 25%. This is a mistake.
Corporations do not pay Corporation Tax, the consumer pays it in the form of increased prices and the workforce pays it in the form of lower wages and fewer jobs.
Given the huge spike in unemployment as a result of the Government’s actions, we should be cutting, not raising, Corporation Tax in order to encourage the retaining of jobs and to attract new investment for creating new jobs.
Chris Mendes, Party Leader