After nine years cleaning up Labour’s mess, things are looking up. Government debt as a share of the economy is starting to fall. For Theresa May’s successor, this means there is an opportunity to spend some desperately-needed money on public services: the police, prisons, schools and local government. But it’s also vital – and a key Tory weapon in the fight against Corbyn – to cut taxes, putting more money in people’s pockets.
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