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24
Sept 2022
Ripon MP Julian Smith says 'huge tax cut' is 'wrong'
Skipton and Ripon MP Julian Smith has described his own government's decision to make swingeing tax cuts as "wrong".
Chancellor Kwasi Kwarteng announced the biggest package of tax cuts in 50 years in his mini-budget yesterday.
He said the UK economy was entering a "new era" and the measures would stimulate growth.
Paul Johnson, director of the Institute for Fiscal Studies, said those with incomes in excess of £1 million will gain more than £40,000 a year each and that the overall measures didn't include "even a semblance of an effort to make the public finance numbers add up".
Mr Smith, who supported Rishi Sunak's failed Conservative leadership bid, also expressed concerns on Twitter:
https://twitter.com/JulianSmithUK/status/1573319566872150020
However, Andrew Jones, the Conservative MP for Harrogate and Knaresborough who also supported Mr Sunak, welcomed this week's government measures.
Writing on his Community News website yesterday, Mr Jones said:
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