DAILY MAIL COMMENT: Tories gamble on new era of Trussonomics
We were promised a ‘fiscal event’. What we witnessed in the Commons yesterday felt more like a political earthquake. Welcome to Trussonomics, Tory in tooth and claw.
In addition to the well-trailed reversal of the national insurance hike and cancellation of planned increases in corporation tax came a cascade of cuts and liberalisations.
A penny off the basic rate of income tax and abolition of the 45p top level.
Creation of tax-friendly investment zones in struggling regions, planning reforms to accelerate dozens of major infrastructure projects. Swingeing cuts in stamp duty, especially aimed at first-time buyers, removal of the cap on bankers’ bonuses and even cheaper alcohol. It was heady…