Truss’s proposed tax cuts heavily scrutinised
In one of her most significant X since becoming Prime Minister, Liz Truss has outlined the agenda for her proposed tax cuts ahead of the Autumn emergency Budget set to be delivered by the Chancellor on Friday.
Speaking in New York, her first international trip as PM, Truss insisted her proposed tax cuts will boost the economy for everyone. Truss intends to scrap the National Insurance hike and corporation tax rises, and it is expected that stamp duty will also be reduced. The PM also plans to lift the cap on bankers’ bonuses with hopes of rejuvenating the City in a new post-Brexit economy.
In anticipation of the Budget, Truss’s proposals have been heavily divisive, with the conventional line between right and left-leaning political opinion all but eroded, as publications that supported Truss during the election begin to question the real-world benefits of her proposals as the UK heads for an economically challenging winter (notable the tone change between The Telegraph and The Guardian).
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Financial Times
Watch Truss’s New York interview with Sky News below.
