Rees-Mogg: Sunak’s tax plan a ‘fantasy’

Senior minister Jacob Rees-Mogg has criticised Conservative leadership candidate Rishi Sunak’s plans to cut the basic rate of income tax from 20p to 16p before the end of the next parliament. He told Sky News said: “If you’re going to talk about fairy-tale economics, I think suggesting there will be income tax cuts many, many years into the future is the finest fantasy.” He went on to suggest that Mr Sunak’s leadership rival Liz Truss has put forward a more realistic plan. Meanwhile, former Cabinet minister Liam Fox has defended Mr Sunak’s approach, telling GB News: “You don’t borrow for tax cuts, you don’t max out on the country’s credit card today and leave it to the next generation, you make sure you’ve got the public finances sorted and then you give tax cuts,” adding that these “have to be earned, not given.”

The Times

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