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Leading article

The return of fiscal conservatism

26 March 2022

9:00 AM

26 March 2022

9:00 AM

Next month, Rishi Sunak will break a Tory manifesto pledge by increasing National Insurance as the tax burden heads to a 77-year high. By declining to increase departmental spending for inflation – and using the saved money to cut the basic rate of income tax – the Chancellor has started a cautious fightback against Big Government conservatism.

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