Reports & Briefings Response to the Emergency Budget
| Response to the Emergency Budget |
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| Written by Adam Smith Institute (June 2010) |
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The ASI’s emergency budget response welcomes the fiscal consolidation proposed by the government and praises the changes to the personal allowance and corporation tax, while also pointing out that the Chancellor could have gone further on spending cuts, and should not have raised VAT and Capital Gains Tax. It goes on to argue that cuts should be achieved by fundamentally re-thinking the role of the state rather than salami slicing, and advocates radical welfare reform as an urgent priority. |
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Words of wisdom
"There is no art which one government sooner learns of another than that of draining money from the pockets of the people."
The Wealth of Nations, Book V Chapter II Pt II
"What improves the circumstances of the greater part can never be regarded as an inconveniency to the whole. No society can surely be flourishing and happy, of which the far greater part of the members are poor and miserable."
The Wealth of Nations, Book I Chapter VIII
About the ASI
The Adam Smith Institute is the UK’s leading libertarian think tank. It engineers policies to increase Britain’s economic competitiveness, inject choice into public services, and create a freer, more prosperous society. For more information, click here.
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