Friday, 28 October 2005

David Davis "tax cuts"

David Davis MP, one of the candidates for the position of Conservative Party leader, has proposed tax cuts if he becomes the leader of a Conservative government.

Mr. Davis supposedly wants £38 billion worth of tax cuts until the next general election. He believes that enhancements for public services can be maintained, whilst reducing the rate of growth for public spending.

You know what? I would really admire a Conservative politician who was willing to eliminate the income tax, scrap all duties on business and end National Insurance. Evidently, that's going a bit too far, especially when the Tories are concerned.

Even with these proposed tax cuts (that's if Davis even wins the leadership and then becomes PM) the Tories would still be a party of big government. I'd imagine that under a Davis Conservative government, public expenditure would equate with 40% of Gross Domestic Product. Apparently such a figure is FAR too large.

Government should only protect rights to the person and property. If this were the case, I'd estimate that government should spend approximately 5% of GDP. With such a small government, we wouldn't really need an income tax, or taxes on business.