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Former Defence Secretary Liam Fox asks for emergency tax cuts

Written on:September 13, 2023
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Liam Fox’s radical economic solutions may be difficult for PM David Cameron to sell

Liam Fox, the former Defence Secretary, has urged PM David Cameron to introduce emergency tax cuts, in the absence of which Fox forecast that the Conservative Party would be defeated in the general election of 2015. The tax cuts would shock the UK economy into growth.

As per Liam Fox, risks had to be embraced by the PM to enliven the recessionary UK economy.

Fox mentioned intriguingly that it was unreasonable and illogical for those Britons in work to continue obtaining benefits. He demanded the relaxation of employment laws to make it easier for UK bosses to appoint and sack employees for the purpose of increasing the UK economic competitiveness.

Capital Gains Tax (CGT) needed to be annulled for three years, which would deliver a signal that UK is open for and amenable to commerce. The tax should be reintroduced after three years at 10%, which would be below the existing 28%.

Fox suggested radically that the UK government should abolish paternity leave and facilities like free TV licenses and winter fuel payments to affluent pensioners.

The Conservative politician had to exit the UK government in 2011 after he permitted his businessman buddy, Adam Werritty, to enter his meetings and official trips.

Fox indicated that the incumbent Chancellor George Osbourne’s deficit decrease policy was not sufficient to reenergise the economy.

Fox, who had recently initiated the Conservative Voice group to propagate conventionalist Tory beliefs, gave these extensive suggestions in an interview in the Times. Thus, Fox is being looked at as the man, who is trying to propel the Conservative Party firmly to the right.

Devout Conservative supporters have complained that PM David Cameron has not been fully true to the Conservative ethos during the last two years of the fractious Coalition Government between the Conservatives and the Liberal Democrats. Cameron has had to compromise on important occasions to satisfy the Lib Dems.

Genuine Conservatives haven’t appreciated Cameron’s attempt to ‘modernise’ the Conservative Party.

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