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'Sharing the Proceeds of Growth': Conservative Economic Policy under David Cameron

Dorey, Peter 2009. 'Sharing the Proceeds of Growth': Conservative Economic Policy under David Cameron. The Political Quarterly 80 (2) , pp. 259-269. 10.1111/j.1467-923X.2009.01984.x

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Upon becoming Conservative leader, David Cameron, and his Shadow Chancellor, George Osborne, initially sought to compete with Labour by pledging increased expenditure on education and the NHS, and thereby insisting that tax cuts would have to wait. Rather than cutting taxation overall, the emphasis was on restructuring and simplifying Britain's tax system, and shifting the burden towards the better off, mainly thorough promoting environmental taxes. However, the economic collapse at the end of 2008 has prompted the Conservatives to modify this new economic stance, by insisting that they will no longer match Labour's planned increases in public expenditure, but, instead, will increase it at a lower rate. This is intended to reduce the need to increase government borrowing during the recession, and thereby ensure that when the economy recovers, the proceeds of economic growth can be shared between higher public expenditure and lower taxation, rather than being spent on repaying government debt for many years ahead.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Department of Politics and International Relations (POLIR)
Subjects: J Political Science > JA Political science (General)
J Political Science > JF Political institutions (General)
J Political Science > JN Political institutions (Europe) > JN101 Great Britain
Uncontrolled Keywords: tax; taxation; public expenditure; regulation; growth
Publisher: Blackwell
ISSN: 0032-3179
Last Modified: 04 Jun 2017 03:15

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