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Tax and Spend: Towards a Smaller State?

In: Conservative Economic Policymaking and the Birth of Thatcherism, 1964–1979

Author

Listed:
  • Adrian Williamson

    (Trinity Hall)

Abstract

In November 1978, Arthur Cockfield addressed the Institute for Fiscal Studies (IFS).1 As will appear, Cockfield and the IFS had played, and would continue to play, important parts in debates over taxation and spending. Cockfield claimed to detect a turning point on spending and associated revenue policies, in Britain and elsewhere: ‘public resentment will ultimately compel a reduction in the role of the state … it may well be that the collectivist tide has already reached its high water mark’.2 Much of the literature reflects this apparent Conservative intellectual and rhetorical self-confidence. Some writers have discerned Conservative enthusiasm for radical Republican policies.3 Thus, Gamble suggests that, after 1974, the Conservatives embraced ‘the revival of a liberal economy’.4 In his view, they sought large reductions in welfare spending to secure substantial cuts in taxation.5

Suggested Citation

  • Adrian Williamson, 2015. "Tax and Spend: Towards a Smaller State?," Palgrave Studies in the History of Finance, in: Conservative Economic Policymaking and the Birth of Thatcherism, 1964–1979, chapter 3, pages 58-88, Palgrave Macmillan.
    • Handle: RePEc:pal:psitcp:978-1-137-46026-4_3
    DOI: 10.1057/9781137460264_3
    as

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