POLITICS AND SOCIAL POLICY
DOI link for POLITICS AND SOCIAL POLICY
POLITICS AND SOCIAL POLICY book
Of every £ earned in Britain today, Government takes and spends 8s. Conservatives think that this is far too much. Most of the taxes come from the earnings of private persons. They are discouraged from additional effort. The amount they are able to spend and save is reduced and their choice is limited. Much comes from those earnings of industry which should be set aside for renewing machinery to reduce future costs and prices. Some, in the form of indirect taxation, directly increases prices. The heavy burden of taxation and Mr Dalton’s methods of rigging the rate of interest have virtually destroyed new private savings. The Government has had to use taxation to finance investment where formerly the stream of voluntary savings sufficed.