00:00What we're seeing actually is growth this quarter at about under half the rate that we had in the
00:04first quarter. So we've got a slowing growth picture. Now why has that happened? That's because
00:09of what the government has done, taxing the living daylights out of businesses, borrowing and spending
00:14lots of money, keeping inflation higher than it would otherwise have been with interest rates
00:18being higher. And of course we're heading into the autumn now to a budget which will no doubt
00:23see some extensive tax rises which will be further damage to our economy. Would you cut the tax
00:29increases the charges? We would never have got into this position in the first place. We would certainly
00:33not have been putting those taxes on businesses because they are the engines of growth. So that
00:38was a fundamental mistake that this government made very early on was to kill growth through
00:43leveraging up taxes on businesses.
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