So where’s the money to cut tax coming from?
Perhaps the most useful thing the candidates for the Tory party leadership might do over the next few days is to read the sobering report last week by the Office for Budget Responsibility. That report points out that “at over 90 per cent of GDP, public debt is now more than triple its level at the start of the century and more than double the around 40 per cent of GDP projected by the Treasury in the UK’s first long-term public finance report published two decades ago.”
