Race to 10 Downing: Will Liz Truss' tax cut proposals help her win the UK election?
2 years, 3 months ago

Race to 10 Downing: Will Liz Truss' tax cut proposals help her win the UK election?

Firstpost  

There is a strategy behind Liz Truss’s approach; there are votes to be won by focusing on taxes — but these are among Conservative party members, not the general public When the results of the Conservative leadership race are announced next week, the UK’s new prime minister will be facing a formidable set of challenges. Given this array of problems, presumed next prime minister Liz Truss’s focus on tax cuts as the solution to rapidly growing inflation looks very odd. The chart below, using data from this publication, shows the relationship between the median tax paid per person in each constituency, and the Conservative vote share in that election. Winning over party members So, what’s driving Truss’s big emphasis on tax cuts?

Tax Election Conservative Party Vote Britain Tax Cuts Truss Conservative Party Members  rapidly  downing  tax  help  race  win  election  trusss  taxes  truss  cuts  liz  prime  vote  uk  conservative  proposals  relationship  party

History of this topic

Jeremy Hunt throws down the gauntlet on tax with five major tax cuts promises in first Tory budget - as Chancellor challenges Labour to rule out rises
5 months, 4 weeks ago

Jeremy Hunt throws down the gauntlet on tax with five major tax cuts promises in first Tory budget - as Chancellor challenges Labour to rule out rises

Daily Mail  

Jeremy Hunt has confirmed five major tax cuts will be included in a Conservative post-election budget, and has challenged his Labour counterpart to rule out any rises in her first budget. The Chancellor said National Insurance would be slashed for the employed and the self-employed, income tax would be cut for pensioners and the increased stamp duty threshold would be …

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears
6 months, 1 week ago

UK’s glum Conservatives try to shift the mood with a promise of tax cuts as polling day nears

Associated Press  

LONDON — Prime Minister Rishi Sunak on Tuesday implored British voters, and his own party, to throw him a lifeline in the U.K.'s election, pledging to cut taxes and reduce immigration if his Conservative Party is reelected on July 4. With the Conservatives trailing the left-of-center Labour Party in opinion polls, Sunak acknowledged that “people are frustrated with our party …

The facts that prove Trussonomics was always doomed to fail
8 months, 1 week ago

The facts that prove Trussonomics was always doomed to fail

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Former prime minister Liz Truss sat alongside her former friend …

U.K. Finance Minister dampens down hopes of tax cuts as election looms
9 months, 3 weeks ago

U.K. Finance Minister dampens down hopes of tax cuts as election looms

The Hindu  

British Finance Minister Jeremy Hunt on March 3 talked down the likelihood of tax cuts in this week’s budget, pledging “prudent and responsible” measures “for long term growth”. The Chancellor of the Exchequer had been widely expected to cut taxes in Wednesday’s budget, in a move seen as a way of closing the gap on the main Opposition Labour Party …

Britain’s Conservative government pushes tax cuts in hopes of bolstering electoral chances
1 year, 1 month ago

Britain’s Conservative government pushes tax cuts in hopes of bolstering electoral chances

Associated Press  

LONDON — Britain’s Conservative government sought to regain the political initiative Wednesday with a series of tax cuts for businesses and individuals that it hopes will bolster its chances in a national election next year that opinion polls suggest it will lose. Treasury chief Jeremy Hunt said the British economy “had turned a corner,” with inflation and government borrowing down, …

Tax cuts ‘virtually impossible’, says Jeremy Hunt in blow for Tory right
1 year, 3 months ago

Tax cuts ‘virtually impossible’, says Jeremy Hunt in blow for Tory right

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} Chancellor Jeremy Hunt …

Tory tax cuts pressure group ‘has enough members to defeat Government’
1 year, 10 months ago

Tory tax cuts pressure group ‘has enough members to defeat Government’

The Telegraph  

A Tory pro-tax cuts pressure group led by allies of Liz Truss claims to have more than 50 MPs signed up, theoretically giving it the numbers to inflict defeats on the Government. The Conservative Growth Group even has some “shadow members” who are ministers helping to lobby from inside the Government, according to sources in the group. Weekly meetings are …

Fuel to the fire: On the Liz Truss government’s missteps
2 years, 2 months ago

Fuel to the fire: On the Liz Truss government’s missteps

The Hindu  

The United Kingdom is fast becoming a cautionary tale for how bad politics can lead to even worse economics. Prime Minister Liz Truss was once seen as a new hope for breathing life back into the sinking fortunes of the U.K. Conservative Party after its previous leader, Boris Johnson, squandered the goodwill of success with the COVID-19 vaccine programme and …

UK markets roiled after bank rules out extending help
2 years, 2 months ago

UK markets roiled after bank rules out extending help

Associated Press  

LONDON — Britain’s economy faced new shocks Wednesday after the Bank of England ruled out extending an emergency debt-buying plan – and the Conservative government appeared to blame the independent central bank for the U.K.’s economic turmoil. The central bank took emergency action after the British government on Sept. 23 announced plans for 45 billion pounds in tax cuts without …

UK’s Truss promises Tories her ‘disruption’ agenda will pay off
2 years, 2 months ago

UK’s Truss promises Tories her ‘disruption’ agenda will pay off

Al Jazeera  

The British leader closes a Conservative Party conference with a pledge to ride out the turmoil unleashed by her tax-cutting agenda. UK Prime Minister Liz Truss has pledged to ride out the turmoil unleashed by her tax-cutting agenda, saying the “disruption” will pay off in a wealthier, more efficient Britain. Truss on Wednesday closed a tumultuous Conservative Party conference in …

Gove joins assault on Liz Truss package of tax cuts for the rich
2 years, 2 months ago

Gove joins assault on Liz Truss package of tax cuts for the rich

The Independent  

The former cabinet minister Michael Gove has heavily criticised Liz Truss’s plans for tax cuts for the rich, saying her unfunded £45bn package had the “wrong values” and was not Conservative. not least because it is being paid for with borrowed money.” And there was a furious response from backbenchers to Tory chair Jake Berry’s warning that rebels would be …

UK PM Liz Truss U-turns on tax cut for wealthiest to avert rebellion within own party
2 years, 2 months ago

UK PM Liz Truss U-turns on tax cut for wealthiest to avert rebellion within own party

India TV News  

The new Liz Truss-led UK government on Monday made an embarrassing U-turn on its central plank of tax cuts by withdrawing a controversial policy to abolish the topmost income tax slab for the wealthiest, following market turmoil and to avert a feared rebellion within the governing Conservative Party. Chancellor Kwasi Kwarteng declared that the announcement in his mini-budget of a …

UK government makes tax cut U-turn after market turmoil
2 years, 2 months ago

UK government makes tax cut U-turn after market turmoil

Al Jazeera  

The United Kingdom’s government has reversed plans to cut the country’s highest rate of income tax, marking a humiliating U-turn for Prime Minister Liz Truss’s new administration. Announcing the government’s U-turn, Kwarteng said the proposal to slash the top rate – which made up about 2 billion pounds out of the overall 45 billion pounds tax-cutting plan – had “become …

‘Get new job’ or cut back, Tory chair tells struggling Britons
2 years, 2 months ago

‘Get new job’ or cut back, Tory chair tells struggling Britons

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Berry added: “That’s the approach the government is taking in trying to create growth.” …

PM Liz Truss defends uncosted UK tax cuts despite market turmoil
2 years, 2 months ago

PM Liz Truss defends uncosted UK tax cuts despite market turmoil

Al Jazeera  

Truss says big tax cuts are the right path for the UK, refusing to consider reversing the so-called ‘mini budget’. British Prime Minister Liz Truss has defended her economic plan and shrugged off the negative reaction from financial markets, saying she is willing to make “difficult decisions” to get the economy growing. In her first public comments since the government’s …

Truss defends tax cuts in pursuit of ‘decade of dynamism’
2 years, 3 months ago

Truss defends tax cuts in pursuit of ‘decade of dynamism’

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Liz Truss has vowed to …

Liz Truss defends controversial tax cuts as pound plummets
2 years, 3 months ago

Liz Truss defends controversial tax cuts as pound plummets

CNN  

London CNN — Liz Truss has defended her government’s controversial announcement to cut taxes for citizens and businesses in an exclusive interview with CNN’s Jake Tapper. Truss told Tapper that by cutting taxes, her government was “incentivizing businesses to invest and we’re also helping ordinary people with their taxes.” While the cuts were expected, critics warn that they will be …

Truss falls back on Thatcherism that excites her base – but alienates most voters
2 years, 3 months ago

Truss falls back on Thatcherism that excites her base – but alienates most voters

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. When Truss tells the country that …

UK’s Truss says she’ll slash taxes despite economic crisis
2 years, 3 months ago

UK’s Truss says she’ll slash taxes despite economic crisis

Associated Press  

NEW YORK — U.K. Prime Minister Liz Truss said Tuesday that she’s ready to make “unpopular decisions” such as boosting bonuses for wealthy bankers in order to get the country’s sluggish economy growing. So corporation tax needs to be competitive with other countries so that we can attract that investment.” Truss, who has been prime minister for just two weeks …

UK's Liz Truss says she'll slash taxes despite economic crisis
2 years, 3 months ago

UK's Liz Truss says she'll slash taxes despite economic crisis

India TV News  

Highlights Tax cuts will be beneficial for the wealthiest more than the poorest. She has already announced a cap on household energy bills Critics say her pro-free market, low-tax economic views, inspired by the likes of Margaret Thatcher UK Prime Minister Liz Truss said Tuesday that she's ready to make “unpopular decisions” such as boosting bonuses for wealthy bankers in …

Liz Truss admits tax cuts will initially benefit rich more than poor
2 years, 3 months ago

Liz Truss admits tax cuts will initially benefit rich more than poor

The Telegraph  

Liz Truss has admitted her tax cuts will initially benefit the rich more than the poor. In an interview with Sky News on the 102nd floor observatory of the Empire State Building, Ms Truss said: “I don’t accept this argument that cutting taxes is somehow unfair. “What we know is people on higher incomes generally pay more tax so when …

Will new Prime Minister Liz Truss be able to revive UK's crippling economy?
2 years, 3 months ago

Will new Prime Minister Liz Truss be able to revive UK's crippling economy?

Firstpost  

The UK economy is facing a recession by the end of this year, with virtually no economic growth predicted until 2024. This will hit public services like health, education and policing Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. For example, Truss’s suggestion of …

Tax cuts that could give high earners nearly £2,000 are ‘fair’, Truss says
2 years, 3 months ago

Tax cuts that could give high earners nearly £2,000 are ‘fair’, Truss says

The Independent  

Liz Truss has described as “fair” tax cuts which could hand nearly £2,000 to high earners, as a former Conservative chancellor warned they would stoke already soaring inflation. Many Tory MPs privately also admit they fear Ms Truss’s plans will exacerbate inflation at a time when experts already predict it could reach as high as 22 per cent. Lord Hammond …

UK Conservatives finish voting for new PM, Truss likely to win
2 years, 3 months ago

UK Conservatives finish voting for new PM, Truss likely to win

Al Jazeera  

Liz Truss is widely expected to be named the winner next week and succeed Boris Johnson as the UK’s next leader. Voting finished in the Conservative Party leadership election, with Liz Truss widely expected to be named the winner next week and succeed Boris Johnson as the United Kingdom’s next prime minister. “If I am elected prime minister, I will …

‘Complacent & irresponsible’ : Rishi Sunak's warning for Liz Truss in UK PM race
2 years, 3 months ago

‘Complacent & irresponsible’ : Rishi Sunak's warning for Liz Truss in UK PM race

Hindustan Times  

Rishi Sunak, the underdog in the UK Conservative leadership race, has warned that the next prime minister faces the risk of markets losing confidence in Britain’s economy. But in an interview with the Financial Times published Tuesday night, Sunak said he “struggled to see” how Truss’s tax and spending commitments “add up,” warning it would be “complacent and irresponsible” for …

Liz Truss leads race to become next UK prime minister
2 years, 4 months ago

Liz Truss leads race to become next UK prime minister

Live Mint  

Foreign Minister Liz Truss has consolidated her lead in recent days over her rival Rishi Sunak in the race to become the next British prime minister, partly by promising she can deliver lower taxes to get Britain’s moribund economy growing again. As Conservative Party members this week began the monthlong process of choosing a new leader to succeed Boris Johnson, …

Second survey shows Liz Truss ahead of Rishi Sunak in U.K. PM race
2 years, 4 months ago

Second survey shows Liz Truss ahead of Rishi Sunak in U.K. PM race

The Hindu  

A new survey of members of the governing Conservative Party shows Foreign Secretary Liz Truss is firmly ahead of rival Rishi Sunak in the race to replace Boris Johnson as the British Prime Minister. It is the second poll from Wednesday showing the Cabinet minister widening her lead over the British Indian ex-minister, with an earlier YouGov poll showing Ms. …

Sunak tries to close the gap on rival in UK leadership race
2 years, 4 months ago

Sunak tries to close the gap on rival in UK leadership race

Associated Press  

LONDON — Rishi Sunak, one of the two contenders to replace British Prime Minister Boris Johnson, on Monday defended his decision to quit the government and help end Johnson’s scandal-tarnished leadership. Allies of Johnson accuse Sunak of treachery for stepping down as U.K. Treasury chief last month as the government floundered amid ethics scandals, with a resignation letter, saying “we …

Liz Truss calls for tax cuts and says she is 'not taking anything for granted' in race to Number 10
2 years, 5 months ago

Liz Truss calls for tax cuts and says she is 'not taking anything for granted' in race to Number 10

Daily Mail  

Liz Truss said the UK is facing its biggest economic crisis in a generation and that now is the time for 'bold action' and not for 'business-as-usual'. The Tory leadership contender has repeatedly said she will introduce swift tax cuts and reverse the national insurance increase if she is made leader of the Conservative Party and Prime Minister. Lizz Truss …

Liz Truss vows to hold emergency tax-cut budget, build 'aspiration nation' and defend 'our country
2 years, 5 months ago

Liz Truss vows to hold emergency tax-cut budget, build 'aspiration nation' and defend 'our country

Daily Mail  

Liz Truss today vows to beat Labour by 'governing as a true tax-cutting, freedom-loving Conservative'. Favourite: Liz Truss, pictured in the House of Parliament after she saw off Penny Mordaunt to make the final two in the Tory leadership contest Ballot winner: Rishi Sunak leaves an office building in London on Wednesday as tops the MPs vote on who will …

Discover Related