§ 52. Mr. Formanasked the Chancellor of the Exchequer if he will detail the stages in the process by which Her Majesty's Government believe that reductions in the burden of personal direct taxation will reduce the number of those now unemployed.
§ Mr. Peter ReesA reduction in personal taxation will improve incentives and the supply side of the economy. These effects are difficult to model precisely, but the net result over time is likely to be higher output, employment and demand. Greater dynamism in the economy would mean an increased rate of economic growth, thereby creating the conditions under which more jobs will be created.