Conservative leader Michael Howard has set out a more cautious approach towards his party's taxation policies in a recent press report, warning that public spending commitments may blunt a Tory government’s ability to offer early tax cuts.
In an interview with the London Evening Standard last week, Mr Howard said that his party’s plans for public sector reform may initially require higher rates of spending, ruling out the possibility of cuts in taxation in the first years of a future Conservative administration. He also sounded a warning over lower rates of economic growth which may restrict a future government's room for fiscal manoeuvre.
Mr Howard’s statements contrast with a speech given by the shadow Chancellor Oliver Letwin to the Politeia think tank last month, where he suggested a Conservative government would strive to dispense with one tax levy per year as part of radical plans aimed at simplifying the tax system.
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