Tax policy

Chancellor: ‘I’m a low-tax guy’ In an interview with the Times, Chancellor Sajid Javid says he is a “low-tax guy” and declares that he wants to “see simpler taxes.” When asked to comment on possible tax changes for higher earners, he says people will have to “wait and see” for the Budget, but adds that “it wouldn’t be any surprise that I think taxes should be efficient”. He continues: “We want to set them at a rate where we are trying to maximise revenue, and that doesn’t always mean that you have the highest tax rate possible. Generally I want to see lower taxes, but at a level that is going to pay for the public services.” Mr Javid says that if taxes are to be cut, “you should always be thinking about the lowest paid, and about how you can try and help them.” Mr Javid also considers the economy after Brexit, saying Britain’s “fundamental economic success is anchored in being a free enterprise, pro-business economy, whether that’s through low taxes, low bureaucracy, supporting talent . . . that actually won’t change.”