Summary
FOR the first time in a Budget in more than 30 years a Chancellor has increased direct taxes on the rich. While it may seem an obvious response to the credit crunch, this policy strikes me as counterproductive, and it is regrettable that it apparently has the Conservative Party's endorsement, more or less.
From the Suez crisis until the 1990s the main focus of much political debate in the UK was "declinism", the sense that Britain was doomed to fail beside the economies of Japan and Germany. But in the past decade and a half, prompted by the lifting of City regulation in the 1986 Big Bang and Nigel Lawson cutting the top marginal income tax rate in 1988, Britain has been a beneficiary of the age of globalised capitalism.See the full content of this document
Extract
Cut Taxes to Bring Us Recovery [Edition 2]
International talent has been drawn to the City, which has experienced a second life as New York's equ...
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