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MNI INTERVIEW: Truss Likely To Cut Taxes Before Crisis Budget

(MNI) London

The UK's next PM may initially opt for a forecast-free tax cut and support package, Ben Zaranko of the Institute for Fiscal Studies told MNI.

Heavy favourite to be the next UK Prime Minister Liz Truss is likely to unveil a tax cut and measures to help with the cost-of-living crisis early in her government, leaving a full emergency budget and borrowing plans to a later date, Ben Zaranko, senior economist at the Institute for Fiscal Studies, told MNI.

The official fiscal forecaster, the Office for Budget Responsibility, normally requires lengthy consultation with the Treasury to assess new fiscal measures, so Truss could unveil tax and household support giveaways while this is still underway, Zaranko said.

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Heavy favourite to be the next UK Prime Minister Liz Truss is likely to unveil a tax cut and measures to help with the cost-of-living crisis early in her government, leaving a full emergency budget and borrowing plans to a later date, Ben Zaranko, senior economist at the Institute for Fiscal Studies, told MNI.

The official fiscal forecaster, the Office for Budget Responsibility, normally requires lengthy consultation with the Treasury to assess new fiscal measures, so Truss could unveil tax and household support giveaways while this is still underway, Zaranko said.

Keep reading...Show less