The wisdom of promising tax rises on businesses just as the country may be about to enter another, post-Brexit, recession is doubtful. Last month even Paul Mason was cheering George Osborne’s decision to cut corporation tax. Because the priority should, of course, be to encourage economic growth and investment, both public and private. But it seems that for Corbyn and Smith the answer is simply “more state” – from new public sector bureaucracies such as the National Investment Bank (Corbyn) to new government departments (Smith); and, of course, more taxes and higher spending (Corbyn and Smith).
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