Rishi Sunak’s budget marks a turn to big-state Conservatism
British tax rates will rise to levels last seen in the 1950s
WHO IS RISHI SUNAK? Listen to the chancellor’s recent rhetoric, and you could be forgiven for thinking he was cast in the mould of a predecessor, George Osborne, who slashed the state in response to the global financial crisis. In a speech to the Conservative Party faithful on October 4th Mr Sunak described borrowing as “immoral”, and emphasised his eagerness to restore order to the public finances. But the budget he delivered on October 27th confused the picture. Reeling off spending measures, he refused to apologise for raising taxes and lauded the spending they supported. “The Conservatives are the real party of public services,” he trilled.
This article appeared in the Britain section of the print edition under the headline “Farewell to austerity”
Britain October 30th 2021
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