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PM Truss-'We Have To Look At All Tax Rates'

UK

Natasha Clark at The Sun: "Liz Truss tells broadcasters in New York she wants to look at reviewing *all* tax rates... Tells the [BBC]: "We have to look at all tax rates." Paves the way for massive shake up of the system, income tax brackets and more... The seismic shift is starting..."

  • Truss has come to office with rhetoric on tax cutting not seen at the head of a UK gov't since former PM Margaret Thatcher in the 1980s.
  • Fiscal event at the end of the week is expected to deliver a reversal of the planned increase in corporation tax from 19% to 25%, and remove the National Insurance Contribution increase implemented in April by former Chancellor Rishi Sunak.
  • Given that Friday is a fiscal event, not a full budget and therefore no OBR forecasts, other measures on tax that have not yet been trailed are not expected to be announced.
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