Iain Norman Macleod and #Krazy

[NickFaulks]

Laffernomics: the demonstrably untrue proposition that you can increase revenue by cutting taxes and waiting an unspecified amount of time.

Yeah, right. Maybe you do have a unique insight into macroeconomics and it is a travesty that you are not currently resident in 11, Downing St. That isn't the point.

The point is that Liz Truss got herself elected on a promise that the way forward was economic growth. Within a few weeks she told us that she had changed her mind and the way forward is now austerity. For that she can never be forgiven.

[John Townsend]

Nick Faulks wrote:

"The point is that Liz Truss got herself elected on a promise that the way forward was economic growth. Within a few weeks she told us that she had changed her mind and the way forward is now austerity."

When did she say the way forward was austerity? I thought she said she still had aspirations for economic growth but needed to take matters more gradually (or words to that effect).

As I see it, it was the implementation of the growth strategy that was at fault - in my opinion, not enough communication and the scrapping of the top rate of income tax antagonized many people.

[Chris Goodall]

The point is that Liz Truss got herself elected on a promise that the way forward was economic growth. Within a few weeks she told us that she had changed her mind and the way forward is now austerity. For that she can never be forgiven.

No leader has ever been elected on a promise that the way forward is economic contraction. You are reading too much into slogans.

[NickFaulks]

When did she say the way forward was austerity?

She sacked her Chancellor and replaced him with one whose avowed intent was to reverse all of his pro growth policies and replace them with austerity. Looks like a 180 degree change of course to me.

[John Townsend]

That's not the same as saying the "way forward" is "austerity": she said economic growth remained the objective, but that it needed to be pursued more gradually.

[Chris Goodall]

When did she say the way forward was austerity?

She sacked her Chancellor and replaced him with one whose avowed intent was to reverse all of his pro growth policies and replace them with austerity. Looks like a 180 degree change of course to me.

Are we in looking-glass land here? Bringing back the 45p tax rate is an anti-austerity policy. If anyone earning over £150,000 complains that they've been a victim of austerity because their tax rate is only 15%pts lower than the 60% they paid under Thatcher, do not take anything else they say seriously.