Daily Star: Brexit Britain heading for HUGE tax cuts and spending BONANZA

BRITAIN is set for huge post-Brexit tax cuts and a public spending bonanza, says Margaret Thatcher’s former economist.

The Westminster group, Economists for Free Trade, says that leaving the EU will mean Theresa May could ditch George Osborne’s austerity programme.

EFT predicts that from 2020 the Treasury will have an extra £25billion in its coffers.

This would allow the chancellor at the time to cut the 40% top rate of tax by 2% and make a similar cut in corporation tax for businesses.

There would also be an extra £14bn a year to spend on schools and hospitals.

The prediction comes as Chancellor Philip Hammond will admit that Brexit is not the disaster suggested by his officials.

It’s a post-Brexit bonanza Meanwhile Tories yesterday said a government led by Jeremy Corbyn would add £358bn to the national debt.

Labour’s plans would also cost each household £4,000.

Professor Patrick Minford, EFT chairman, said: “The UK economy is doing extremely well following the Brexit vote and there are huge economic opportunities that are only possible because of the vote to leave the EU.”

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