History tells us to give Liz and Kwasi a chance

MANY letters from Conservative voters about tax reductions for ‘the rich’ show a lack of understanding of how a successful economy works.

In 1964, when Labour came to power under Harold Wilson, Denis Healey, the Chancellor, vowed to squeeze property speculators — meaning the rich — ‘until the pips squeak’. His high-tax regime led to a mass exodus of our most talented individuals, mostly to the U.S., from where few returned.

This ‘ brain drain’ was a selfinflicted wound to Britain’s economy. Coupled with the failure of successive governments to rein in militant trade unions, it led to 15 years of decline and made Britain ‘the sick man of Europe’. It was only when the Conservative government of Margaret Thatcher came to power in 1979 that the economy grew again, leading to the prosperity we enjoy today.

Labour has always been the party of levelling down — no one must be allowed to do better than anyone else. The Conservatives are the party that seeks to level up, by providing a climate in which talented entrepreneurs can build successful businesses, boosting employment and the economy.

Every Labour government has brought Britain’s economy to its knees. Please do not risk this happening again. Give Liz Truss and Kwasi Kwarteng the benefit of the doubt, until their policies have a chance to prove themselves. MALCOLM HEYMER,

Dereham, Norfolk.