Libertarian Party: Budget Response

The Libertarian Party have likened Rishi Sunak’s budget to “a gambler throwing dice”, with “no encouragement of thrift”.

Party Treasurer, Malachy McDermott, said “The Chancellor has acted like a gambler rolling dice. Every economic decision comes with risk – every business owner knows this.

The usual Tory gambles are in here, money for roads, money for broadband and to raise the threshold for NI payments.

On the surface these may seem like they are positive, but what lies beneath is far more destructive in both the decisions made and the mindset behind them.

If “500,000” are to stop paying NI then where does this shortfall come from? So far there are no signs of any spending decreases. It’s borrowed, plain and simple! ,

It’s a plan for ‘additional borrowing of £96.6bn forecast by 2023-2024,’ to be exact.

Isn’t it time we said enough? We need to take back control of our cash, spend and invest it into the things we want.

We need a Central Bank that works to build savings, with a fiscal policy that seeks to reduce state expenditure wherever possible and only spend where it is absolutely necessary.

Like any borrowing this must be paid back, and it is not the decision makers who must decide where this repayment should come from, it’s us.

We are the ones who have had our savings wrecked by a panicked and extravagant fiscal policy that would make Jeremy Corbyn blush.

It seems like the promise of Dominic Cummings and the SpAds who were supposed to bring some form of fiscal prudence to the Tories have fallen by the wayside.”

Staffordshire County Co-ordinator, Chris Wilkinson added “This new Conservative government is totally bereft of traditional conservative convictions and this budget proved it.

There is no encouragement of thrift, no mention of saving, no prudence and no sense of moral purpose.

It is without the very enterprising values that gave the party such strength and vitality in the 1980s.

It is a party now hamstrung by the disparate interests of its regionally diverse constituencies, something that can’t be reconciled with such a centralised mindset.

Like the Blair government, it will aim to please everyone and, in the end, please no one at all.

For the first time in more than a generation, both the Labour Party and the Conservative Party went to an election promising high spending and high taxation.

The Libertarian Party believes in low spending and low taxation. The difference is that stark.

Put simply, there is no room for government to spend more money.

A Libertarian government will endeavour to end the Barnett Formula and devolve spending decisions to regional bodies, unify and significantly reduce income tax and national insurance.

It would also axe the TV licence, exposing the BBC to proper market competition, scrap HS2 and other statist vanity projects, and abolish the market-distorting stealth taxes such as the plastic tax, the sugar tax and the climate change levy.

There is no better way to budget for the people of Britain than to give them back their economic liberty and freedom over their finances.”