Michael Howard, leader of the UK opposition Conservative party, yesterday promised that if his party wins the next general election, not only would it reduce taxes, but also spend more.

Attempting to steal New Labour’s thunder by committing the Tories to an extra 49 Billion pounds of spending on health and education by 2010 while simultaneously projecting large tax cuts, Mr Howard who made his reputation as the archetypal Thatcherite , repeatedly speaks of the American economy as his inspiration, but fails to explain where the money for the tax cuts and the increased spending will come from.

Most economists expect that he will quite simply rack up a massive public debt as his Guru George W. Bush has done.

See also : Howard says no need for UK to leave Europe


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