Tory Members of Parliament failed to oust Boris Johnson last week, but they sure put a fright into the Prime Minister with a close no-confidence vote. A good sign is that Mr. Johnson says he now wants to focus on the economy, and tax cuts are back on the agenda.
Tax policy has been one of Mr. Johnson’s biggest blunders. His signature error has been a 2.5 percentage point increase in the payroll tax to fund the National Health Service, which took effect in April as household energy bills rose 54%. Last month Mr. Johnson adopted a Labour Party proposal for a windfall-profits tax on energy companies.
