LIZ Truss has admitted that tax cuts make the rich richer as her Government prepares to unveil £30 billion of them — and doesn’t care if it sours her reputation.
Chancellor Kwasi Kwarteng’s expected package of cuts will reverse the 1.25 percentage point National Insurance hike and halt the planned corporation tax rise of 19% to 25%.
The Institute for Fiscal Studies says it will give the poorest 63p a month while the richest will gain £150.
But Ms Truss thinks it will somehow swell Britain’s economic growth to 2.5% a year, up from the current 0.2%.
She said yesterday: “People on higher incomes generally pay more tax so when you reduce taxes there is often a disproportionate benefit because those people are paying more taxes in the first place.
“We should be setting our tax policy on the basis of what is going to help our country become successful, what is going to deliver that economy that benefits everybody in our country.” Of tax cuts, the Prime Minister added to Sky News, in the Empire State Building: “Of course they help people in general.
Denne historien er fra September 21, 2022-utgaven av Daily Mirror UK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra September 21, 2022-utgaven av Daily Mirror UK.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
SOLANKE HAS HAD SO LONG TO WAIT
Seven years on from his one and only cap as a sub against Brazil, Dom says he never gave up hope.... and kept that Lions shirt on his wall for motivation
BATTLE ROYALE
Champions accuse PL of 'misleading' top-flight chiefs ahead of crunch summit meeting next week | Clubs will have to only overcome 'minor issue' as league are confident they can update the rules
LET'S HAV IT!
Warriors prop star Ethan desperate to erase the memory of last year's Old Trafford injury hell
WAS POISON VICTIM TARGETED BEFORE?
Hair loss fear ahead of GP plot
Cruise hip
Number of families holidaying at sea doubles in five years
A £158m 'drop in the ocean
Water rebates after firms' records get worse... but price hikes loom
FLEE OR DIE
Residents told to evacuate before hurricane hits
BADENOCH FANS IN RACIST CHATS
Targets in WhatsApp group for Tory leadership hopeful included Sunak
I'll go when I stop enjoying the job..
Nurse works at same hospital after 50yrs.. & plans to keep going
ISRAEL BLITZED
Hezbollah's 100-missile onslaught rocks city