Britain could be wealthy and great again, but is held back by being grossly overtaxed, famed economist Art Laffer, the creator of the Laffer Curve, has warned the UK’s new left-wing Prime Minister Andy Burnham.
Arthur Laffer, the American economist who advised Ronald Reagan, Margaret Thatcher, and now President Donald Trump and who is perhaps best known generally for his Laffer Curve theory that there is a maximum effective tax rate in any economy, beyond which government takings actually fall even as demands rise, has warned the British government it’s on the wrong side of that gradient.
Noting that the British government has already scared away many high earners —...
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