A HOST of hated taxes should be swept away to help Britain boom after Brexit, leading economists said last night. National insurance, death duties and council tax were among 20 levies on households and businesses which they argued should be abolished.
And income tax should be slashed to a flat rate of just 15 per cent for most earners, said the Institute of Economic Affairs blueprint.
“Lower taxes would lead to higher growth,” the think-tank’s report states.
“Employment, productivity and wage levels would rise.” Tory MPs are already urging Chancellor Philip Hammond to use Brexit as a golden opportunity to restructure the economy.
He is already under pressure from colleagues to cut taxes in his Autumn Statement later this month.
The hugely ambitious proposals for a revolutionary overhaul of Britain’s tax system come from a group of highly regarded economic experts including Patrick Minford, a former adviser to Margaret Thatcher.
