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Even the most innumerate amongst us has probably heard of the Laffer curve, a theory popularised by the US economist Arthur Laffer. It spells it out how, beyond a particular threshold, increasing taxes actually brings down revenue. A vocal advocate of tax cuts and free trade, Laffer rose to prominence as an adviser to President Ronald Reagan and later served as Donald Trump’s economic advisor during his 2016 presidential campaign. Trump even awarded Laffer the Presidential Medal of Freedom in 2019 for his contributions to economics. Camilla and Tim are joined by the legendary economist – who was a friend of Margaret Thatcher – to discuss what Rachel Reeves should do in her upcoming Budget; the logic behind Trump’s tariffs, and whether Nigel Farage has a coherent economic plan. Laffer also weighs in on Liz Truss, who he says was “thinking in the right direction” with her mini-Budget, and explains why a wealth tax would be a “hugemistake”. https://www.telegraph.co.uk/customer/... ► Get the latest headlines: https://www.telegraph.co.uk/ ► Sign up to the Telegraph's free new daily newsletter, From the Editor, bringing you the latest news, features and analysis from the Telegraph newsroom: https://telegraph.co.uk/customer/secu... #ArthurLaffer #LafferCurve #Economics #TaxCuts #FreeMarket #Reaganomics #DonaldTrump #RachelReeves #UKBudget #WealthTax #LizTruss #NigelFarage #CamillaTominey #TimStanley #TheDailyT #EconomicGrowth #TrumpTariffs #Thatcher #FiscalPolicy #SupplySideEconomics