Mr Trump’s tax reforms

Welcome to the new President. On his Inauguration day I want to send him best wishes for his period in office. I want to encourage him to concentrate on improving the economic lot of voters in the USA. Tax reductions and tax reform can be a crucial element in his programme.

Mr Trump himself campaigned to cut income tax for the many, to reduce the number of income tax bands from 7 to 3, and to take more people out of income tax altogether. He argued for a corporation tax rate of just 15%, and an incentive rate to get offshore profits of US corporations repatriated to mainland and Main Street America.

To get any of this through he needs the active engagement of Congress. Paul Ryan, the Speaker, is also a tax cutter and reformer by instinct. He has made more radical proposals than Mr Trump’s. The two of them need to get together and sort out their differences, so something can get done.

Speaker Ryan wants to change company profits tax to a cashflow tax, where the destination of the goods or services matters. He wants to tax imports and exempt exports. He believes his proposals would pass muster with the WTO, though others disagree. Mr Trump is not persuaded by this element of the Ryan plan, maybe because he does worry about the international repercussions of such a direct intervention in favour of domestic as opposed to traded activity.

Some Republicans worry that Mr Trump’s reforms would lose the US too much revenue at a time of large deficits already. Others reckon the positive effects on growth and the onshoring of profits would mean the tax cuts were affordable. There is no doubt that a sensible tax package for companies can assist the President’s aim of making more in the USA. Cutting taxes on individual earnings can boost incomes, increase consumption, and start to deal with the feeling of many that they have been left behind in recent years.

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46 Comments

  1. Lifelogic
    Posted January 20, 2017 at 7:22 am | Permalink

    The USA indeed need tax cuts and tax reform but the UK needs it far, far more.

    Just three examples Real Property Transfer Tax 1% – 1.425% UK stamp duty up to 15%
    Inheritance threshold USA $5,450k UK £325K
    Income tax up to 39% but only over $400,000 in the UK you are on 40% at just £43,000 plus NI and 45%+NI.

    High taxes damage the economy, push the hard working and wealthy abroad, and often raise less tax too. Hammond did nothing sensible in the Autumn statement just the dire Osborne agenda continued. He need to wake up, cut rates and simplify now.

    Oh and energy is already far cheaper in the USA too. So get rid of all the green crap here how too. We need to know the May/Hammond plan on taxes, red tape and energy, why are they dithering so much?

    • Lifelogic
      Posted January 20, 2017 at 7:56 am | Permalink

      Sales taxes in the USA circa 8% average and in the UK we have 20% and an absurdly complex VAT system too which costs a lot to administer.

      Yet still the UK government has a massive deficit and provides very poor public services, dire health care and poor infrastructure.

      • acorn
        Posted January 23, 2017 at 10:04 am | Permalink

        “Speaker Ryan wants to change company profits tax to a cashflow tax, where the destination of the goods or services matters.”

        Ryan’s cash-flow tax, is a phrase designed to disguise the fact that his plan is actually a VAT system. You are not allowed to use the phrase Value Added Tax in the Republican Party

    • Lifelogic
      Posted January 20, 2017 at 8:05 am | Permalink

      Chris Grayling just now on the news just now talking compete and utter gushing rubbish about the absurd lunacy of HS2 project. It is clearly an absurd waste of tax payers money. Can Graying really be so daft as to think this, or is he just lying as he thinks it is his job to lie?

      I caught a train London to Birmingham the other day (on the Chiltern Line) it was empty, cost just £5.50 one way and had WIFI tables and charging points. No shortage of capacity at all. The only way to make trains much faster really is to make fewer stops. But with fewer stops door to door transfer times and distances can increase anyway.

      We are clearly led by innumerate donkeys.

    • stred
      Posted January 20, 2017 at 8:42 am | Permalink

      Yesterday it was reported that the caterwauling luvvies, who performed so noisily at President Obama’s inauguration, have refused to attend at Donald’s. What a pleasure this will be. Perhap’s some country and western hillbillies will make up the deficit.

      I was in Washington when Obama was about to do his ‘yes we can’ routine and didn’t. The only programme on the hotel tele which was unlikey to induce brain death was C Span, their parliament channel. It is put on here Sunday lunchtime and Trunp’s secretary of state, Mr Tillerson, ex-head of Exxon, was being interviewed by Democrat and Republican senators. They kept up a violently anti-Russian tirade and made him admit that Putin;s actions in Syria amounted to war crimes, conveniently forgetting to mention US bombing of civilian hospitals, even though not used by terrorists.

      These senators also have torn into Trump’s new head of their environment agency, making him admit that global warming was not a Chinese scam. It may be necessary for Donald to carry on firing people , as he does on his TV show. It will make for interesting news.

    • Hope
      Posted January 20, 2017 at 8:56 am | Permalink

      A breath of fresh air to politics. This means change around the world to the established order. The politicians in the UK who manage what their masters in the EU dictate to them are nearly over. Farron, Clegg, Kinnock, Straw, Mandelson, Clarke and others ought to stop ranting rubbish and think of new ideas that we might want to vote for (yesterday men that the electorate does not want). The politicians in the UK who lazily managed what their masters in the EU dictated to them implement are nearly over.

      Follow no one lead yourself- and Trump is doing exactly that. The media in the UK a disgrace, again, this morning. Half-wits interviewed spouting smears without any substance. TV still misquoting and distorting what Trump said. TV presenters allowed to tweet nonsense which is a reflection on the poor reputation of their organisations. Particularly the BBC. When will the penny drop the public want to be heard and want their views represented,not the continual liberal/left wing that is being imposed upon us. Too much PC clap trap not enough action.

    • Mitchel
      Posted January 20, 2017 at 10:12 am | Permalink

      I read yesterday that Blue Peter badges will henceforth be made out of recycled yoghurt containers in a factory powered by solar power.Will you be sending yours back in protest,LL?!

    • Lifelogic
      Posted January 20, 2017 at 11:03 am | Permalink

      Despite all these absurdly high tax rates the State seems to find it beyond them to even provide public loos, water fountains, decent libraries, to fill the pot holes, protect vulnerable children or take the rubbish away. All things that were done fairly efficiently in my youth. What went wrong? I suppose they just have new more fashionable PC concerns, vanity projects like HS2 and pay and pension themselves far too much, while delivering little of value.

      May and Hammond need to cut the state in half, this while getting it to actually deliver some real services of value for a change.

    • hefner
      Posted January 20, 2017 at 2:07 pm | Permalink

      Slightly misleading comment: you would have to add the taxes from the state you live in. But agreed, the sum of federal plus state taxes is lower than the UK one.

    • Ed Mahony
      Posted January 21, 2017 at 10:51 am | Permalink

      Fiddling around with taxes here and there isn’t going to make a huge difference.
      The problem with the US (and the UK) are spiritual / moral / ethical:

      – lack of WORK ETHIC (for all, including responsibilities towards your employer as well as responsibilities towards your employees).
      – not enough focus on the FAMILY – how if we have strong families and family life in general, we have strong individuals and a strong country
      – lack of sense of balanced, goodwill towards country – PATRIOTISM (including paying taxes, respect for parents and those in authority, care for the elderly and the vulnerable in general etc)
      – too much focus on banal news and entertainment as well as being hedonistic and not attention and investment on ARTS and culture as well as focus on self-restraint, self-discipline
      – too much attention on the wrong kind of materialism and not enough focus on the spiritual and moral values in general (including supporting the CHURCH)

      It isn’t about imposing religion or moral or ethical values on people (you can’t do that), but about the government doing what it can to support / inspire WORK ETHIC, the FAMILY, PATRIOTISM, the ARTS, the CHURCH and organisations that value the spiritual life not just the material.

      Everything else a government does is of secondary importance to the above. Sadly, we’ve got it back-to-front, and that’s why our history is a litany of wars, civil wars, boom and bust and depression, division within society, division within families, violence, crime, and so on.

  2. Mark B
    Posted January 20, 2017 at 8:28 am | Permalink

    Good morning.

    The cutting of corporation tax is a major policy. A policy that will have a serious impact on the EU and especially Ireland and Luxembourg.

    So with the UK, hopefully, leaving and not having to pay huge contributions, and large corporate tax losses due to the above, I think the EU is in for a hard time for the remainder of this decade.

  3. Ian Wragg
    Posted January 20, 2017 at 8:37 am | Permalink

    Whatever Donald does it is inevitable that it will rock the creaking EU boat.
    Wind contributing 2% again.
    Absolute lunacy.
    Wedded to the stupid climate change act and taxes around 50% is neither clever or sustainable.
    Let’s hope some of Trumps tax cutting and nationalist agenda rub off on TM.
    Good article today about Murky and the EU in denial.

  4. alan jutson
    Posted January 20, 2017 at 8:59 am | Permalink

    It will be interesting to see how the battle between the establishment, and the new kid on the block works out.

    I wish Mr Trump well, for the American people and for all our sakes.

    Can he change the thinking of time served politicians to go along with his new commercial mindset, or will he be frustrated by the system thinkers of old.

    Interesting times ahead.

  5. margaret
    Posted January 20, 2017 at 9:02 am | Permalink

    He has also promised to inject large amounts of money into places which have been brought to their heels over recent times. Channel 4 news featured this last evening.
    Playing at making it difficult to buy from abroad though is a dodgy game . The reciprocation could mean specific tariffs from the customer and make the game even again.

  6. Hope
    Posted January 20, 2017 at 9:07 am | Permalink

    Has any politician other than trump had the sense and courage to tell Merkel her mass immigration policy is a failure? Why haven’t any of the so called leaders in the other 27 countries told her and objected? She is not shy coming forward for what she wants, how dare she impose mass immigration on the other countries without a consensus as she always claims to want?

    Hammond in the papers shows why he is weak, insipid and not fit for for his office. It really is not difficult to understand that people are fed up with the Westminster swamp who all sound the same. The public want to be heard and represented the Liblabcon under EU rule does not achieve that.

    One of the repeated phrases of success by politicos is gay marriage. No it is not. Equality and fair treatment yes, interfering with religion, no. Put it to a referendum and see how the public feel. One of many nanny state fads that does not have the public consent.

  7. William Long
    Posted January 20, 2017 at 9:29 am | Permalink

    I hope you will be encouraging HMG to look carefully at Mr Trumps plans with a view to reforming our broken system. Ideally they should tear up Butterworth’s and start again with a very clean sheet of paper. But to do this we will need a chancellor of vision and also the great determination necessary to overcome the high tax inertia prevailing at the Treasury and so far I have seen no sign of either.

  8. turboterrier
    Posted January 20, 2017 at 9:43 am | Permalink

    Cometh the hour cometh the man. That hour starts about 1700hrs our time.

    To hear some of the crap being spewed out by the BBC in the last 24 hours is just about bordering upon hatred. It is non stop. On QT last night I never thought I would say thank God for Morgan he at least spoke from a position of knowledge, experience and fact.

    We can all have our views but just like Teresa May one has to be patient and give her a chance to deliver. The same with Mr Trump, know one knows, up to now it has all been a rehearsal now he has to deliver to meet the expectations of the American people.

    The civilised world seems to have adopted the thought pattern of, I lost what I voted for so I will complain and protest to change the result. They have no idea what signals they send out about their country and in short this behaviour is pathetic and intolerable. Why are the Scots today protesting on the streets of Edinburgh? These political losers and their constant moaning would have far more credibility if they resigned their position and allowed others to step up to the mark, get it got, and still have an impact on the inputs into the process without this underlying perception of being an assassin waiting their opportunity.

    Mr Trump I am sure is well experienced in putting a crew around him not only to deliver but also to watch his back. He could well surprise us all.

  9. Chris S
    Posted January 20, 2017 at 9:47 am | Permalink

    I too wish President Trump well and I hope the bleating from the Hollywood Luvies stops

    We have a great deal of synergy with the USA when you look at the disproportionate influx of economic migrants, our economic deficit with China and the EU, and high taxes. After eight years where the “special relationship” has been anything but, we have a strong ally in the White House. We should be celebrating today.

    I think we need to increase our spending to 3% to properly meet the commitments our politicians want our armed forces to meet and to be a credible partner of the US.

    As present, they are far too stretched, especially the Royal Navy and in the area of Maritime protection. I have never understood how the US could spend so much on their military ( over 4%, I believe ) when we have to fiddle the figures to get to 2%. I regret to say that Cameron was a disaster in this respect.

    A perfect example is the MOD order to purchase just nine US-built P-8A Poseidon Maritime Patrol Aircraft for the RAF. A former senior officer who spent many years in this field has told me that nine aircraft are a mere token gesture and that at least three times that number are required. This kind of inadequate solution is repeated all over the military.

    Mrs May could well cement our relationship with President Trump by making some small but significant investments in the military. A few extra Poseidons and Type 45 Destroyers would be a start. Halve the foreign aid budget and we can fix social care and buy 50% more Poseidons and Destroyers in the first two years alone ! With our new carriers to defend when they are at sea we need them.

    I suspect that history will regard Mr Trump as either an unmitigated disaster or as a President who is fondly remembered for restoring faith in the US, bringing back jobs to the rust belt and repairing relationships with Russia through tough negotiation with Putin.

    Unlike Obama, the Trump Presidency is unlikely to be regarded with indifference.

    President Trump is an intelligent man and I think he is more likely to be a success than not.

    We wish him well.

  10. acorn
    Posted January 20, 2017 at 10:16 am | Permalink

    US companies have stashed over $2,500 billion offshore in places like Netherlands, Luxembourg, and UK oversees tax havens such as Bermuda and Cayman Islands. That is circa $700 billion plus, they haven’t paid in US Corporation tax. They only pay about 6 – 7% tax offshore. All because the US Congress allows US non resident controlled companies to do it. No politician has suggested that they stop permanent corporate tax deference; there’s a surprise! In the UK, Corporation tax is basically voluntary / negotiated; onshore or offshore.

    The Trump measures will actually make things worse. Tax holidays on repatriation of current savings offshore, just encourages corporates to do more offshoring, waiting for the next tax holiday. Naturally, repatriated Dollars benefit the 1%, not the 99%.

    Imagine what a massive injection of Dollars back into the US economy would do for inflation. Even if congress ruled it had to be spent on roads and bridges, the cost of Tarmacadam and Tarmacadam layers, would go through the roof.

  11. Bert Young
    Posted January 20, 2017 at 10:19 am | Permalink

    There is no doubt that the USA needs to control the number of companies that take advantage of off-shore tax havens . This has been going on for more years than I can remember . Back in the late 50’s I produced a paper on this ( it was titled “Profit Sanctuaries” ) and concerned the activities of Mack Trucks and Whirlpool . Bermuda was the centre that enabled huge profits to be stored off-shore ; there were no offices or employees based there .

    Why US tax authorities have allowed there digressions to continue is a quandary . Trump will make his presence felt and America will be better off for it .

  12. formula57
    Posted January 20, 2017 at 10:41 am | Permalink

    Indeed, let us wish Mr Trump well and hope he does well.

    At least the UK is no longer at the back of the queue.

  13. Prigger
    Posted January 20, 2017 at 10:46 am | Permalink

    Ryan is an extremely able nuts and bolts political workman. He let himself down in opposing Trump on-off-on-off. Backstabbing. He is the Gove x 10.

    The Republican Party owes its victory exclusively to Trump. Republicans, even the ones hating Trump, know that Ryan is a threat by his destabilisation. A threat to their own political careers. At key points in the Trump/ Republican campaign when Trump faced the most vicious and nasty personal attacks from the media and the Democrats, all Ryan needed to do was nothing. He joined the attack. Had Ryan a charisma anywhere equal to his skills, the Republicans would have lost due to his interventions.

    So, in my view, despite Ryan’s tremendous abilities, it will be his own “comrades” who will actually stab him in the back and not necessarily Trump who knows a sound workhorse when he sees one. Trump may even defend him!

  14. Richard Butler
    Posted January 20, 2017 at 11:08 am | Permalink

    I am struck by the new era of practical can-do no nonsense folk in Trumps Cabinet. The days of drippy machine politicians are over.

    • Chris
      Posted January 21, 2017 at 8:07 pm | Permalink

      I am too, f57. It is indeed refreshing and actually inspiring. There is hope for us all yet!

  15. Lifelogic
    Posted January 20, 2017 at 11:18 am | Permalink

    Trump to shrink government by $10.5 Trillion and go for cheap reliable energy without climate alarmism sound great to me, and he is not even in office yet.

    But what do we get from Theresa May even after six months, just forced workers on company boards, central pay controls, a sugar tax, lots more tax increases, the sick joke of HS2 and proposed rules on gender pay reporting.

    Is it not time for her to grow up and get real for a change at her age? Just making a Trump like announcement would be hugely beneficial but nothing sensible other than her words on Brexit (and those far too late).

  16. Anonymous
    Posted January 20, 2017 at 12:02 pm | Permalink

    Well. Whatever Trump’s reforms, we have both him and Brexit because of the arrogance of the Left and their refusal to tolerate even moderate conservatism or protectionism (except for their own gilded and nepotistic elites .)

    If globalism comes with huge social disintegration and costs at home then clearly some barriers need to be erected and tax incentives for domestic activity increased.

    It’s a pity about the oversteer towards shock-jock Trump was the result of a refusal to listen to the people and tolerate slightly stern but historically moderate conservative candidates – a similar reflex towards Brexit occured.

    We have still not got out of the “you’re racist so shut up” school of closing down debate. The celebrity outrage against Trumpism is as predictable as a Hollywood ‘A’ lister’s talentless daughter appearing on a catwalk.

    They don’t get it. White Leftist elitists are what people are voting against – not foreign people.

    (Newmania take note.)

  17. Antisthenes
    Posted January 20, 2017 at 12:11 pm | Permalink

    To have real tax reform then it needs to be open to competition. The 15% corporation tax is a recognition of that fact as it looks to compete with foreign competitors who want businesses to domicile with them. It is an adjunct to free trade as all taxes have a bearing on how business friendly a country is. Taxes and trade are currently seen as a means to protect government and producers revenues. That is perverse as government and producers do not need protection it is citizens and consumers who deserve that. So our thinking on how to reform taxes and how we conduct trade should be based on that. If we did then taxes would be minimal but enough to ensure our security. Trade would be completely free to ensure our prosperity. Wealth redistribution that we favour as a social necessity would be dependent on the success of both. The more successful the less the need.

  18. Gina Dean
    Posted January 20, 2017 at 12:37 pm | Permalink

    Maybe it is time to look at how countries are run. They are after all a large business conglomerate, possibly it would be better run by business men rather than career politician.
    it will be interesting to watch USA over the next few years.
    Hears hoping our negotiating with the EU goes well. All we seem to hear is how we will not be able to have access to trade market, nothing much about the reverse of their loss to our market.
    Thank you for all your help and support in getting out of the EU.

  19. Atlas
    Posted January 20, 2017 at 12:46 pm | Permalink

    John,

    Are Trump’s ideas a form of “Reaganomics” ?

  20. UK Land of Tax
    Posted January 20, 2017 at 12:49 pm | Permalink

    Osborne’s idea of tax cuts ended in tears for everyone. Now we have Council Tax and Council Tax-Plus dependent on the rate of incompetence of Local Councils to run their affairs properly. It is a bit naff cutting Local Authorities’ blind dumb handouts of tax-payers money from Government only to allow them to grab taxes locally with their usual level of intelligence and honesty.

  21. ian
    Posted January 20, 2017 at 1:03 pm | Permalink

    That only half of the trump plan, the other half is to cut liberal lovies jobs by hundreds of thousands in state department offices by up to 80% to 100% across washington and elsewhere for a infrastructure build out, what it means is getting rid of uni desk jobs for real jobs and also will be hard to get passed in congress but as always he has a plan if congress dose not act, he will use the power of executive orders to cut whole departments with no cuts and then rename the ones he want to keep with 80% to 90% less jobs, 1 trillion dollars cuts to go into infrastructure each year, then you have the pentagon cuts or as he would say efficiency savings also to defence contractor to cut prices for war ships and planes because he thinks they are over charging for the work they do and not to mention the cia, if he last three months he will be doing well, that’s why they are calling him a dictator.

    As for it happening hear.

  22. No relief
    Posted January 20, 2017 at 1:10 pm | Permalink

    Mr Trump is aware of the corruption of State and City administrations. It will be interesting how far the swamp of Washington and City swamps will head-off his reforms.
    Clearly he needs more than the four years. Even a second term is not enough. We should hope his daughter Ivanka will gain the Republican nomination after his eight years at the helm, for another eight years afterwards.
    Mr Trump criticised Obama for thwarting the democratic process especially in his final two years by Presidential Decree. Mr Trump may also need to shortcut “democracy” to get things done in a nation so corrupted to short-changing its own people.
    We see this snails-pace change in the UK. Look at the “debate” after 23rd June 2016. The LibDems, Labour, SNP, and Remoaners in the Tory Party feel no qualms whatsoever in totally ignoring the Will of the People by endless moanings like adolescent crybabies.
    But their moanings are deliberate and in medieval times they would have been hanged after being tortured just for the sheer hell of it, providing necessary diversion for the poor giving them revengeful pleasure and emotional relief.
    We poor people nowadays get precious little natural relief from the tolerance of Remoanings. We poor people could be issued with a walking stick and given travel vouchers to stand on picket duty outside Parliament and in a walking-stick-arched salute give the Remoaners a sound thrashing. Alas, their psychology would mean they would most likely enjoy it rather more than a nice meal, a drink, and an early night with their latest better halves.

  23. ian
    Posted January 20, 2017 at 1:33 pm | Permalink

    As for it happening hear with the parties you vote for is another case because the politicians hear are nearly all liberal lovies, that’s because you have no independent MPs like trump in parliament to get the job done, in other words you vote for what put in front of you, rubbish.

  24. rose
    Posted January 20, 2017 at 1:36 pm | Permalink

    And welcome too to President Adama Barrow, another friend of Brexit Britain and Trump’s America, and a fellow victim of anti-democracy. A businessman too.

  25. Mr GlumsterSobber
    Posted January 20, 2017 at 1:55 pm | Permalink

    Mr Hammond has just spoken from Davos to Sky News BLAMING Mr Blair of all people for Brexit…something to do with a lack of a transition period in accepting the immigration from the EU. Something along the lines of too much of a good thing, all at once instead of gradually like the proverbial boiled frog. How arrogant and indeed foul to get people to accept what you yourself could never accept by gradualism in they hope they don’t notice.

    Why don’t the Remoaners ever consider that genuine,non- racial, non-fear, Love of Country had a bit to do with it? To them, patriotism is the last refuge of a scoundrel…false patriotism is the only patriotism they recognise. Remoaners obviously had bad teachers and bad schools. They ape their teachers.

  26. Tiny Trump
    Posted January 20, 2017 at 2:45 pm | Permalink

    The chief criticism snowflakes in our media and in Parliament have about Trump is that he has had a job. As such, a trifle common, in their little and belittling purview. His having worked in a job makes it tremendously hard for them to vicariously experience the mindset someone at his obvious low level.

  27. ian
    Posted January 20, 2017 at 3:00 pm | Permalink

    As you can see i am making headway now john, made a start hear as well by smashing up the parties hear like a cat smashing up a mouse before it eat it, when the public hear see what’s happening in the usa the people will demand action in the uk, there one thing i want parliament to do soon, that is to turn half the overseas aid budget into animal conservation budget for the animals on the planet, as the song goes all things bright and beautiful the lord god made them all, my army is massive and they are demanding action on this, as for the fools at davos, the souls will piss on them if they do not get action on this one.

  28. hefner
    Posted January 20, 2017 at 3:58 pm | Permalink

    God bless POTUS45’s US of America. They will need it.

  29. ian
    Posted January 20, 2017 at 4:21 pm | Permalink

    Mr trumps ideas of on shoring profits for companies to pay tax on will not work because the companies will buy other companies with that money and buy their own shares which give them bigger pay packets in the boardroom for spending the money like that instead of paying taxes and shareholders will be worst off because most companies buyouts are a waste of time and only enrich people in companies boardroom with big bonus along with bankers and lawyers who set up the deals and share buyback also pay big bonus in the boardrooms, that how they make most of their money.

    You will fine also that 90% conference call that companies make are not true and if you take a good look at their book and will see that they are not worth the money they say they are worth and sales are not what they seem that’s why they have lots of accountants to fiddle the books and government know this, so they never ask to see their books.

  30. Anthony Makara
    Posted January 20, 2017 at 6:09 pm | Permalink

    The UK government must now examine our dependence on imports, particularly in manufacturing and look for ways to bring manufacturing jobs back to Britain. Our dependence on imports makes us very vulnerable to currency fluctuations. Sadly many of our senior politicians and the BOE have been all too eager to rely on advice from neoliberal groups like the Adam Smith Institute and embrace globalization regardless of the consequences. Meaning we end up with a stagnant low wage economy that just provides us enough money to buy cheap imports from China. Good wages on the other hand can only come from productivity and manufacturing with goods produced here in the UK and consumers paying real prices. Intelligent Protectionism is now going to be the official economy policy of the United States and the UK must follow suit.

  31. Up der Journalists!
    Posted January 20, 2017 at 6:15 pm | Permalink

    A beautiful inauguration of Trump. Pity eighteen year old singer Jackie Evancho who was the National Anthem, had not received so many death and violence threats by democrat losers.

    Pity also that Kay Burley and her comrade on BBC blotted out Mrs Obama being formally announced by their very worthwhile, intelligent, highly skilled, lucid, sober, literary, momentous earth-shaking and so so so craftsman-like interviews on Sky News and the BBC.

    Hopefully Trump will somehow rid us of such Fake News as BBC, Sky News and CNN.
    The journalists would soon adapt like fingers to a glove in posting door-to-door advertising free papers locally or even regionally, if, if they prove good. A bright future.
    Until then they will no doubt do documentaries and Quality newspaper articles on Obama’s Legacy. Rust Belt and Corruption, military and civilian deaths ignored of course as is their wont.

  32. Denis Cooper
    Posted January 20, 2017 at 6:36 pm | Permalink

    Off-topic, I wish these people could make their minds up whether they want to embark on a course of mutual destruction or they want to avoid that outcome:

    http://www.telegraph.co.uk/business/2017/01/20/germany-offers-uk-hand-friendship-brexit-outcome/

    “Germany offers UK hand of friendship on Brexit outcome”

    “”We have to minimize the damage for the United Kingdom and Europe. The German government will work in the negotiations always in this direction, to minimize any risk for both of us,” he told the World Economic Forum in Davos.

    Mr Schaeuble said a sudden rupture at the end of the two-year talks – after Article 50 is invoked – must be avoided at all costs.

    “We are very concerned that it will not happen, and we will be engaged. It would be a disaster for all of us. We will do whatever we can to avoid such a situation,” he said.”

    https://www.ft.com/content/d2fa5938-def7-11e6-86ac-f253db7791c6

    “Schäuble says post-Brexit trade deal with UK can be done quickly”

    “Mr Schäuble said the Brexit result had to be managed “in the best way to minimise any damage for UK and for Europe, not only for Germany. The German government will work in this negotiation so that we minimise any risk of damage for both of us.””

    “… he said that while transitional deals were difficult, this was less of a problem after Prime Minister Theresa May’s speech pledging to take Britain out of the European single market and customs union.

    “Now we know the final outcome, we can start to work and we will do everything we can to avoid a [disruptive] outcome. I think we can get it done,” he said. “

  33. ian
    Posted January 20, 2017 at 7:44 pm | Permalink

    Liberal lovies coming out the woodwork everywhere now wanting trump head on a plate and to do all they can stop him even, crash the stock market, what ever it takes, the liberal lovies are now showing their true colours of hate they have for plebs and what nasty people they really are full of hate.

  34. Aatif ahmad
    Posted January 20, 2017 at 10:40 pm | Permalink

    You lot are unbelievable. You want to cut the deficit and reduce the public debt but in the same breath argue for tax cuts. America is not an Ireland where the corporation tax rate can be cut to 15% without serious repercussions for the public debt. Reagan had argued tax cuts would pay for themselves but it set America on the path of permanent deficits and an ever increasing debt burden.

  35. Ed Mahony
    Posted January 21, 2017 at 11:07 am | Permalink

    And if President Trump doesn’t embrace the principles I mention then it’s just going to be same old, same old.

    And how many politicians promise so much (including some kind of brave new world), but their careers end up a bit like this:
    ‘ … struts and frets his hour upon the stage
    And then is heard no more: it is a tale
    Told by an idiot, full of sound and fury,
    Signifying nothing …’

    Politics will only ever signify anything if it embraces the values i mention above. If it doesn’t, then it will just end up, with same old, same old (at one time or another): war, civil war, disunity in society in general, boom and bust and so on – AND whose careers ‘signifying nothing.’

  36. ian
    Posted January 21, 2017 at 3:54 pm | Permalink

    a

  • About John Redwood


    John Redwood won a free place at Kent College, Canterbury, and graduated from Magdalen College Oxford. He is a Distinguished fellow of All Souls, Oxford. A businessman by background, he has set up an investment management business, was both executive and non executive chairman of a quoted industrial PLC, and chaired a manufacturing company with factories in Birmingham, Chicago, India and China. He is the MP for Wokingham, first elected in 1987.

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