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