Tax has become one of the biggest talking points during the Conservative leadership contest despite the fact that we’ve spent the past two years living through a pandemic, and are currently experiencing a cost of living crisis that has seen inflation knock on the door of 10%.
Former chancellor Rishi Sunak has been accused of being un-Tory like for raising National Insurance in his time at Number 11. But he has claimed his opponent, Liz Truss, is spouting fantasies by promising to cut taxes and increase borrowing when inflation is already so high.
The problem for both is that the future economic growth as predicted by the OECD looks fairly stagnant in the UK. Only Russia has a worse forecast among G20 nations.
