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Telegraph-PM Presser @ 1400BST, Corp Tax Up From 19% To 25% From April

UK

The Telegraph is reporting that PM Liz Truss' press conference on the economy will take place at 1400BST (0900ET, 1500CET). Also states, in line with expectations, that corporation tax will rise to 25% from 19% as planned by the previous gov't.

  • Chris Hope at the Telegraph: "Corporation Tax will rise to 25 per cent this spring, Liz Truss will announce at a 2pm press conference today. The about-turn means she is abandoning one of the flagship tax cut promises from her Tory leadership campaign."
  • Speculation on whether Chancellor Kwasi Kwarteng will remain in office. Bettors give a 66.2% implied probability he does not remain in office into 2023 according to data from Smarkets.

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