Kwarteng invokes Thatcher but UK faces very different times

Contributing sentiments towards policy:

49% : The top rate of income tax was already so much lower and Britain was more lightly regulated than most advanced economies, he said.
44% : Alongside a programme of deregulation, she cut the top rate to 60 per cent in her first Budget alongside a basic rate income tax cut from 33 per cent to 30 per cent.
42% : In 1988 Nigel Lawson's cuts to the top rate of income tax only came when the government had a budget surplus of 1.1 per cent of gross domestic product, not when it was running a large deficit as now.
32% : Instead, the most likely effect would be "worse public finances, a higher cost of borrowing and lower public spending".
25% : Academics disagree about whether Reagan's tax measures spurred higher labour supply and entrepreneurialism as a result of the difficulty of separating out the pure effects of tax on growth.

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