Tory economics: No new taxes, revisited

As Gordon Brown, the UK prime minister, spends to save the world, while admitting the need to tax more in the future, David Cameron, leader of the opposition Conservative Party, sees opportunity: to be the low tax party again. Last month, Brown’s New Labour projected fast rising government debt and an increase in the higher marginal tax rate on the highest earners. It was a step back towards old Labour: tax more and spend much more. The retrograde motion of Labour has given Cameron a chance to ...