MP Alan Mak meets world's most famous economist Arthur Laffer to discuss UK economy

Havant MP Alan Mak has met the world's most famous economist Arthur Laffer to discuss the UK economy.

Mr Laffer, an adviser on economic policy to US Presidents Ronald Reagan, Bill Clinton and Donald Trump, has been on a visit to London. 

He is best-known for the 'Laffer Curve', a widely accepted concept which states that income for any government from taxes will fall once rates are raised too high. This is because people will work less as it doesn’t pay to do extra work beyond a certain point.

Mr Laffer has warned Prime Minister Andy Burnham that Britain is being taxed to death under this Labour Government.

He believes that more tax rises in the Autumn Budget on 28 October would only heighten concerns that the government was losing its grip on public finances. 

Mr Laffer has also called on the Labour Government to cut taxes on work to help solve a youth unemployment crisis. 

Mr Mak, a former Treasury and Business Minister, said: "It was very interesting to meet Mr Laffer and discuss the UK economy with him.

"He shares my concern about the prospect of UK households who are already struggling with the cost of living being hit by further taxation as Labour continues to mismanage our economy.

"Lower taxes not higher taxes are needed for growth."