Commenting on Rishi Sunak's Summer Economic Update, Andrew Allison, Head of Campaigns of The Freedom Association, said:
"The furlough scheme was welcome when it was introduced in March, but the Chancellor is right to end it. It can only be a temporary measure, but paying employers £1,000 to take back furloughed employees will only delay the inevitable for many businesses.
"Although raising the Stamp Duty threshold to £500,000 is welcome, it is a temporary measure. Stamp Duty is a pernicious tax which penalises those who want to move home and distorts the housing market. It should be scrapped.
"In the Autumn, I hope that Mr. Sunak will announce permanent measures to kick start the economy. Taxes need to be cut, and in some cases abolished. Regulations and barriers to entry must be reduced.
"The Government cannot keep on spending borrowed money trying to prop-up the economy. Some businesses will fail and others will innovate and become successful again. The Government has to trust the entrepreneurs of this country. It is the private sector that will get us out of this crisis and the Chancellor must enact serious reforms to make that as easy as possible."
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NOTE FOR EDITORS
The Freedom Association (TFA) is a non-partisan, centre-right, classically liberal pressure group. We believe in the freedom of the individual in all aspects of life to as great an extent as possible. As such, we seek to challenge all erosion of civil liberties and campaign in support of individual liberty, freedom of expression, and free markets.
To find out more about The Freedom Association, visit our website: www.tfa.net