Former Cabinet minister Owen Paterson has called on the Government to improve on its promise to increase the threshold for the 40p higher income tax rate and introduce reductions in stamp duty, inheritance tax and capital gains tax to give middle-class taxpayers greater incentives to generate wealth. “It’s high time we Conservatives rediscovered the virtues of low taxation. Low taxes encourage effort, initiative and enterprise,” Mr Paterson said.
Source: Daily Mail
We’ll save the popular press the trouble and we’ll take it as read that Mr Paterson is out of touch/a Tory toff/typical public schoolboy/snout in the trough/I’m-all-right-Jack/overprivileged/living proof we’re not really all in it together* (*delete as applicable). But that doesn’t mean he’s wrong, does it?