Labour’s cruel tax hikes don’t look like recipe for growth our economy needs

Growing fears

LABOUR’S number one priority is economic growth, Sir Keir Starmer has repeatedly told us.

So how’s that going then?

Labour's tax raids have battered business confidence and stunted productivity — Labour’s tax raids have battered business confidence and stunted productivityCredit: PA

Confidence in the economy has slumped to close to the record lows that were recorded in the doom-laden days of the Covid pandemic.

Optimism among business leaders has been plummeting since before the budget, when the Prime Minister and his Chancellor Rachel Reeves were busy talking down the economy.

That downward trend has accelerated since the Chancellor hiked National Insurance for businesses in her budget.

Now we learn that 125,000 jobs are threatened by the Inheritance Tax changes which were among her other tax grabs.

Wicked idea

WE should be proud that the new film blockbuster Wicked, currently casting a spell over cinema audiences worldwide, is made in Britain.

The bad news is that Hollywood movie giant Universal — which made a £12 BILLION profit last year — was handed £28 million of UK taxpayers’ cash to persuade them to make it here.

That was nearly 20 percent of the £148 million cost of producing the film, which has already raked in more than £150 million at the box office.

Clearly there’s a good reason for providing incentives to boost the British film industry and the jobs that go with it.

But with the world-class expertise we have, wouldn’t the movie-makers come here anyway? Or at least for less?

It’s obviously a balance the Treasury experts need to get right.

Not everyone will be convinced they’re on the right Yellow Brick Road.

SoS for OAPs

THE run-up to Christmas has begun in earnest, but for tens of thousands of pensioners it’s anything but party time.

Campaigners fear cuts in the Winter Fuel Allowance and rising bills will increase isolation amongst the older generation this festive season.

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