South Dorset MP Richard Drax says LOWER taxes key to economic recovery

Richard Drax has told Greatest Hits Radio he's appealing to the Chancellor to lower taxes, not raise them in the years ahead to help the UK economy recover from coronavirus.

Rishi Sunak revealed yesterday that the economy is expected to shrink by 11.9%, and it's not forecast to recover to pre-coronavirus levels until the end of 2022.

South Dorset MP Richard Drax has issued this response:

"Bearing in mind, the government's decision to fight this dreadful virus by locking us all down into various tears, then we have got a responsibility to ensure as best we can, although we can't help everyone, to prop those businesses up because they're going to be needed very badly when this is all over - because they generate the tax that pays for all our public services.

"We've got a huge hole. The government's borrowed about circa £500 billion. It's an absolutely eye-watering figure.

"I, and many other Conservative colleagues are advising the chancellor to treat this like a war time debt, and by that I mean rather than raising taxes through the roof to pay for it all now, we're going to have to do it in the longer term.

"Most importantly, I and many others, are advising the chancellor that we must work our way out of this situation, not tax our way out.

"If we raise taxes now, which for some would be the natural thing to do, then you're going to cripple all those businesses that are already crippled and they are not going to recover overnight."

• richard drax
• Economy
• south dorset mp