WOKINGHAM’S MP has called for the country to have a £12bn tax cut in the event of the UK leaving the European Union – enough to give every family an extra £660 a year.
John Redwood made the comments on a blog post this week, as the EU Referendum Bill was passed by Parliament, making it increasingly likely that the vote will take place by 2017.
“If the British people vote to come out of the EU our budget deficit is immediately cut by more than £12 billion a year from that day onwards,” he wrote.
“Should we speed up the tax cuts, giving every family an EU exit bonus of around £660 a year? Or should we mix increased public spending and tax cuts, spending say an extra £350 per household on health and education whilst having a £330 tax cut?”
The MP, who was re-elected with an increased majority last month, said that he favoured tax cuts which will benefit the country as a whole.
He said: “The boost to incomes, jobs and activity from accelerated tax cuts would show this is indeed the prosperity policy I want. It would also make such a good contrast with the European austerity policies of Greece, Spain, Italy and Portugal, where governments are indeed following genuinely austere policies at the behest of the EU.”
Well-known for his stance on Europe, Mr Redwood’s views had been in demand this week.
He spoke on BBC Radio 4’s The World At One programme, where he shared his views that funding for the referendum campaign should not come from the public purse.
He said: “I don’t think any taxpayers’ money should be spent on either [side of the] campaign.”
In another article, this time for the Conversative Home blog, he critcised the EU’s handling of the Transatlantic Trade and Investment Partnership (TTIP) negiotiations.
“The EU’s negotiation of the TTIP just looks like another clumsy EU power grab,” he noted.
Mr Redwood writes frequent updates on the EU situation – and other local issues – on his blog www.johnredwoodsdiary.com.
