The Conservative leadership frontrunner, Liz Truss, has rejected “handouts” as a way of helping people affected by the cost of living crisis.
Truss said she would press ahead with proposed tax cuts despite claims they would fuel inflation and “kiss goodbye” to the Conservatives’ chances of winning the next election.
With mounting pressure as households face a financial squeeze, the foreign secretary rejected handouts and insisted on tax cuts costing more than £30bn as the country spirals towards a recession.
“Of course I will look at what more can be done,” Truss told the Financial Times. “But the way I would do things is in a Conservative way of lowering the tax burden, not giving out handouts.” » | Geneva Abdul | Saturday, August 6, 2022
Clearly, Liz Truss doesn’t understand even basic economics. Tax cuts are not going to help the poor or the struggling middle class get through these tough times. Doesn’t she know that a person earning less than £12,570 per annum doesn’t pay any tax anyway; so how are tax cuts going to help these people get through this crisis?
Tax cuts are wrong for the economic crisis we are in. First of all, tax cuts would help the rich and better off and not the poor and under-privileged, and secondly, even if they were to help at the margin, it would take a long time for any benefits of tax cuts to filter through. So, what are the working poor going to do in the interim? Starve and/or freeze to death? Get a grip, Madame! – G Mark Alexander
