The joke’s on Brown

It took a while, but I spotted Labour’s April Fool trick: an attack document on the Tory economic agenda. It looks real at first, but when you go through it the con becomes transparent.

APRIL FOOL ONE: “The Conservative Party wants to face two ways at this election, promising extra tax cuts and spending commitments while at the same time claiming they would reduce the deficit further and faster than Labour’s plan to halve it in four years.”

REALITY:
Labour pretends to be unaware of the basic economic concept that if you have a lower tax rate, business grows faster – generating more revenues. There is such a thing as a self-financing tax cut, which is why the top rate of tax has fallen around the world over the years. And even a tax cut which leaves a net loss the Exchequer is balanced out under the Tory NI tax cut (if the Fink will allow