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Wednesday, October 18, 2006

Oops, now they have gone and done it.

The premature publication of the Tory Tax Reform Commission report has put David Cameron on a direct collision course with his party. The report proposes cuts in personal and business taxes - including reducing basic income tax to 20% and a £21 billion bill for any incoming Tory Government to meet without any idea of where that money will come from. It could well lead to massive cuts in public spending on key services such as education and health.

The Tory leader has said he will not promise tax cuts unless they can be paid for and said economic stability should be the priority. In the light of this report he may find sustaining that position to be more and more difficult.
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