Has the chancellor completely undermined his credibility by pledging post-Brexit tax hikes? - City AM

Andrew Allum, chairman of the TaxPayers’ Alliance, says Yes.

George Osborne’s credibility has been hanging by a thread for some time after missing just about every single fiscal target he’s ever set himself, but his latest contribution to the referendum debate is beyond the pale.

He simply cannot possibly know the economic impact a leave vote would have and, besides, any immediate reaction by financial markets would tell us nothing about the effects Brexit would have on the public finances in the long run, be they positive or negative.

Far from being necessary, the proposed tax hikes would damage economic growth, something Osborne has been at great pains to point out during his chancellorship but sadly seems to have forgotten. Just days ago he stated his belief that Brexit would hit the poor, so his plans to increase fuel duty and the basic rate of income tax are nothing short of vindictive. This was not the act of a responsible chancellor, but of a desperate politician.

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Has the chancellor completely undermined his credibility by pledging post-Brexit tax hikes? - City AM
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June 16, 2016 at 2am - 5am

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