Friday, 14 Aug 2020

John Redwood urges Rishi Sunak to issue tax reform to boost post-Brexit economy

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Tory MP John Redwood urged Chancellor of the Exchequer, Rishi Sunak, to make tax changes that could benefit British citizens and businesses. Following Mr Sunak’s speech in the House of Commons, Mr Redwood insisted post-Brexit Britain could thrive if it assessed its current tax regulations. Mr Redwood argued the UK should focus on growing its own food, supplying its own power and have a self-sufficient health service for the future.

Mr Redwood said: “An excellent focus on jobs and excellent measures.

“Will the Government review the taxes, subsidiaries, public procurement and regulations in a way that could be amended.

“This is so that we grow more of our own food, land and process more of our own fish, generate more of our own power and supply more of the things our health service and MOD require.

“It can be better made in Britain and better made with British jobs.”

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Mr Sunak agreed with Mr Redwood as he outlined the benefits of leaving the European Union.

Mr Sunak said: “I thank my right honourable friend for his support and he is absolutely right.

“Leaving the European Union provides us with a unique opportunity to reexamine all of our procurement rules and many of our regulations.

“I share with him a passion to ensure that we can support our local economy as much as possible.

“We can be creating jobs and this has never been more vital than it is today.”

During his mini-budget speech in the House of Commons, Mr Sunak unveiled how the Government plans to rejuvenate the economy.

Mr Sunak announced a £2 billion kickstart scheme to curb unemployment for thousands of youngsters.

He said: “Young people bear the brunt of most economic crises, but they are at particular risk this time because they work in the sectors disproportionately hit by the pandemic.

“We also know that youth unemployment has a long-term impact on jobs and wages and we don’t want to see that happen to this generation.

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“So we’ve got a bold plan to protect, support and create jobs – a plan for Jobs.”

Mr Sunak also praised the Government for their work to save the economy and jobs during the coronavirus crisis.

He added: “I am proud of what this Government have put in place and the speed at which we have done so.

“The jobs of nine million people have been protected through our furlough scheme; 2.7 million self-employed people have had their income supported; and millions of companies have received access to loans, grants, tax deferrals.

“In sum, this represents £130 billion of support—one of the most comprehensive and generous support packages available of any country anywhere in the world.”

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