Donald Trump used a press conference in Scotland to deliver a subtle dig at Rachel Reeves’ high tax and high spend economic policies, which are threatening to drag Britain into a recession.
Taking aim at Labour’s promise to grow the economy, the US President argued that low taxes “bring growth”, suggesting Ms Reeves will fail in her ambitions.
Speaking from his golf course, President Trump compared his own economic strategy at home to other countries’, citing his “big tax cut bill, the biggest bill in the history of our country actually. One big beautiful bill… it’s essentially a very large tax cut bill for everybody.”
“Our country’s never done better. We had a country that was dead six months ago, a year ago… they had high taxes, they wanted more tax… I find that when you lower taxes you get growth.
“I will say this: the PM hasn’t been here very long in all fairness, I think he’ll be a tax cutter. But I find as we cut taxes we do more business. My first tax bill, we cut taxes from 39% to 22%, and we ended up at the end of the first year taking in much more revenue than we did at 39%. It was pretty amazing.”
Rachel Reeves increased Britain’s already historically high tax take by £40 billion during her first budget last year, and is expected to have to raise billions more at this year’s Budget.
MORE TO COME…
