what we need is more spend and tax. That’s our only hope.

The FT reports this morning that:

Unpacking that, what Sunak is saying is:

  • The Mail wants tax cuts and he will deliver them.
  • To supposedly fund those cuts he will kick those on benefits even harder.
  • This will be done by forcing those unable to work to look for work, and when they cannot find it he will then deny them benefits even if that work is manifestly obviously not available to them.
  • He does not care about the consequences for those he harms. He only cares about the few extra votes he might get as a result.
  • In the process, he does reveal that his concept of individualism is all about the individual as a functioning economic unit of production and that if they do not exist in that way, then as far as he is concerned, they are of no value in the society that he wants and represents.

The reality is that this is a terrible policy for the country and those it will harm.

The harm is obvious. But the other truth is that we do not need tax cuts. The UK government needs to spend more on:

  • The NHS
  • Education
  • Social care
  • The justice system
  • The environment
  • And on investing in:
    • Schools and hospitals that are falling down
    • Transport that is failing
    • Flood defences
    • Climate change measures

And that extra spending will require more tax to counter the inflationary impact it will create, which tax must be paid for by those with wealth, and no one else. Hence, the Taxing Wealth Report 2024.

That spending is entirely possible. We could have the country we need and want. We just have to be willing to tax those with the capacity to pay.

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