Will the Splurge work?

Nov 26, 2008

Today the Chancellor announced around £20 billion worth of additional borrowing, over and above the near £100 billion the government would have borrowed anyway. This money will be used to fund a reduction in the VAT rate and a number of other small measures. The Government has announced that this additional borrowing will be paid back after the next election by a new 45% top rate of tax for those earning over £150,000 and National Insurance increases of 0.5% for both employers and employees.

Policy Exchange investigates if these measures will work.


Helen Thomas

Helen Thomas
Economics Research Fellow Read Full Bio

James Mackenzie Smith

James Mackenzie Smith
Research Fellow, 2009 Read Full Bio

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