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John Redwood: U.S. leads globally in income per head, UK trails with slower growth
Countries with the highest incomes are led by the U.S., which has a GDP per head of $92,000, according to John Redwood. He observes that several small countries with low tax rates also rank highly.
Redwood points out that the UK, at $56,000, is falling further behind due to slower growth. He questions why the government wants to align itself more closely with the EU, which has a GDP per head of $44,000.
Redwood has recently called on the UK government to cut petrol taxes as surging oil prices drive up VAT and consumer costs. He has also questioned the delay of a Cobra meeting intended to address the increase in UK borrowing and energy expenses. His recent commentary continues his focus on the government's response to economic challenges.
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