Kwasi Kwarteng insists: ‘I’m not going anywhere’ as Liz Truss set to reverse tax cut
2 years, 5 months ago

Kwasi Kwarteng insists: ‘I’m not going anywhere’ as Liz Truss set to reverse tax cut

The Telegraph  

Alterations to the mini-Budget could be announced within days rather than waiting for the wider “medium-term fiscal plan” on Oct 31, it is understood. I speak to the Prime Minister constantly about measures that will help economic growth, and that’s what we’ve been focused on.” On his future, Mr Kwarteng said: “I’m not going anywhere. I really enjoy Number 11.” He also refused to rule out changing other elements of his £43 billion package of tax cuts and said: “I’m not going to play those games about what’s in or out or any of that. What I’m totally focused on is making sure that we get growth in the economy.” Disconnect between Number 10 and Treasury There were signs of disconnect between Number 10 and the Treasury on Thursday, with sources familiar with discussions saying the mini-Budget leaks emanated from Ms Truss’s camp. Amid speculation from Tory MPs that he could lose his job if the new economic reset fails, Lord Clarke, the former Tory chancellor, urged Ms Truss not to “scapegoat” him.

Tax Treasury Number Tory Corporation Tax Ms Truss Number 10 Tax Cut Kwarteng Mr Kwarteng Truss Set  going  kwarteng  treasury  mps  insists  mr  economic  minibudget  number  tax  reverse  im  ms  truss  set  liz  kwasi

History of this topic

The facts that prove Trussonomics was always doomed to fail
11 months, 2 weeks 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 …

Liz Truss calls for the ban on the sale of new petrol cars by 2030 to be delayed and says the tourist tax should be axed
1 year, 6 months ago

Liz Truss calls for the ban on the sale of new petrol cars by 2030 to be delayed and says the tourist tax should be axed

Daily Mail  

Liz Truss will today back the Mail's campaigns to scrap the 'tourist tax' and delay the 2030 ban on new petrol and diesel car sales. Former Prime Minister Liz Truss talks to Glen Owen of the MoS about her new book in her office in Portcullis House And she will urge the Government to 'be bold' and set out a …

Kwarteng turns on Truss and says she was ‘not wired’ to be PM
1 year, 6 months ago

Kwarteng turns on Truss and says she was ‘not wired’ to be PM

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. Read our privacy policy Kwasi Kwarteng has said Liz Truss was “not wired” to be …

Kwasi Kwarteng: Trying to lower taxes in mini-budget was right
2 years, 1 month ago

Kwasi Kwarteng: Trying to lower taxes in mini-budget was right

The Independent  

Sign up to our free Brexit and beyond email for the latest headlines on what Brexit is meaning for the UK Sign up to our Brexit email for the latest insight Sign up to our Brexit email for the latest insight SIGN UP I would like to be emailed about offers, events and updates from The Independent. He said: “I …

I’ve seen a WhatsApp message setting out the future Tory leadership – and it’s brutal
2 years, 5 months ago

I’ve seen a WhatsApp message setting out the future Tory leadership – and it’s brutal

The Telegraph  

Liz Truss is no longer leading. Jeremy Hunt’s statement at 11am on Monday was part of a carefully coordinated effort to reassure the markets that there would be no more policy surprises to spook bond traders. It was barely half the length of Ms Truss’s ill-fated press conference to defend the sacking of Kwasi Kwarteng, her Chancellor, on Friday – …

Fuel to the fire: On the Liz Truss government’s missteps
2 years, 5 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 …

New UK finance minister warns some taxes will rise in sign of new U-turn under PM Liz Truss
2 years, 5 months ago

New UK finance minister warns some taxes will rise in sign of new U-turn under PM Liz Truss

ABC  

Britain's new finance minister Jeremy Hunt said on Saturday that some taxes will have to go up, signalling another abrupt policy U-turn by Prime Minister Liz Truss who is battling to save her leadership just over a month into her term. Key points: Britain's new finance minister Jeremy Hunt says the country needs stability and that Liz Truss needs time …

Liz Truss refuses to apologise over tax cut U-turn debacle at 8 minute press conference
2 years, 5 months ago

Liz Truss refuses to apologise over tax cut U-turn debacle at 8 minute press conference

The Independent  

Liz Truss has refused to apologise for problems created by her economic policies, after U-turning on yet more of her budget. The prime minister left a planned press conference after just eight minutes and four questions, to shouts of “are you going to apologise?” She had just dodged a question about whether she should say sorry for the chaos – …

Truss promises £19bn extra taxes for big companies after U-turn
2 years, 5 months ago

Truss promises £19bn extra taxes for big companies after U-turn

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. But the U-turn will barely cover a third of …

Weeks after unfunded tax cuts in UK, Kwasi Kwarteng sacked as British Chancellor
2 years, 5 months ago

Weeks after unfunded tax cuts in UK, Kwasi Kwarteng sacked as British Chancellor

Firstpost  

Barely a couple of months ago, when Liz Truss was voted to power, it seemed clear that Truss and Kwarteng were the closest of political allies, but a few lopsided decisions and the turmoil in the financial markets of the United Kingdom led to the split New Delhi: Just weeks after he announced unfunded tax cuts that sparked financial turmoil …

Liz Truss sacks Kwasi Kwarteng as chancellor
2 years, 5 months ago

Liz Truss sacks Kwasi Kwarteng as chancellor

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. Read our privacy policy Liz Truss has sacked Kwasi Kwarteng as chancellor following the disastrous …

UK Finance Minister Kwasi Kwarteng fired after tax cut debacle
2 years, 5 months ago

UK Finance Minister Kwasi Kwarteng fired after tax cut debacle

Live Mint  

Amid the deeping political turmoil in Britain, British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng, the BBC reported on Friday. British government bonds rallied further as the Prime Minister continued to find alternatives of making up for unfunded tax cuts, which crushed UK asset values and also attracted international censure. INTERNATIONAL CREDIBILITY A Conservative Party lawmaker, who …

'Not going anywhere' says UK finance minister, amid talk of new U-turns
2 years, 5 months ago

'Not going anywhere' says UK finance minister, amid talk of new U-turns

Firstpost  

Pressure on the government intensified after a YouGov poll published by The Times newspaper said 43 per cent of Conservative voters wanted a new prime minister in Downing Street London, United Kingdom: Britain’s beleaguered finance minister insisted Thursday he was safe in his job but endured a rebuke in Washington from the International Monetary Fund over his misfiring economic policies. …

Expectation of major Truss U-turn grows as pressure on PM builds
2 years, 5 months ago

Expectation of major Truss U-turn grows as pressure on PM builds

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. Speculation was fuelled further when the Chancellor, in an …

UK’s Kwasi Kwarteng out as Liz Truss U-turns on corporation tax
2 years, 5 months ago

UK’s Kwasi Kwarteng out as Liz Truss U-turns on corporation tax

Al Jazeera  

Prime minister appoints Jeremy Hunt as chancellor to replace Kwasi Kwarteng and reverses course on sweeping tax cuts. British Prime Minister Liz Truss has appointed Jeremy Hunt to replace Kwasi Kwarteng as chancellor and reversed a plan to cut corporation tax, scrapping a key part of the economic plan that had sparked market turmoil. Truss said she was acting to …

Liz Truss ditches another big tax cut and fires her finance minister
2 years, 5 months ago

Liz Truss ditches another big tax cut and fires her finance minister

CNN  

London CNN Business — UK Prime Minister Liz Truss has fired finance minister Kwasi Kwarteng and ditched a big part of her discredited economic strategy in a desperate bid to rescue her month-old premiership. Kwarteng presented a “mini budget” just three weeks ago, promising tax cuts worth £45 billion and increased borrowing with the hope of boosting UK economic growth. …

Kwasi Kwarteng sacked as Chancellor by Liz Truss
2 years, 5 months ago

Kwasi Kwarteng sacked as Chancellor by Liz Truss

The Telegraph  

Liz Truss has sacked Kwasi Kwarteng and ripped up her leadership promise to cut corporation tax on the most chaotic day of her six-week premiership. The Prime Minister pulled the trigger on her chancellor after just 38 days in office, making him the second shortest-serving Treasury boss in modern political history. She was finalising plans to abandon her pledge to …

Sir Rocco Forte threatens to quit Britain over Truss's tax U-turn
2 years, 5 months ago

Sir Rocco Forte threatens to quit Britain over Truss's tax U-turn

The Telegraph  

Leaders from the manufacturing industry were also left dismayed. Stephen Phipson, head of the trade body Make UK, said: “On its own, the short-term decision to increase corporation tax again sends the wrong signal to investors as to how attractive the UK is as a destination for foreign investment. Tim Sarson, head of tax policy at KPMG, said: “What business …

‘Desperate’ Liz Truss set to U-turn on corporation tax this weekend
2 years, 5 months ago

‘Desperate’ Liz Truss set to U-turn on corporation tax this weekend

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. But one Conservative former minister described the move as “desperate” …

UK PM Truss under pressure to ditch economic plan
2 years, 5 months ago

UK PM Truss under pressure to ditch economic plan

The Hindu  

A senior member of the U.K. government on Thursday rejected suggestions that Prime Minister Liz Truss should step down after lawmakers from her own party criticized Ms. Truss for economic policies that have sparked turmoil on financial markets. Ms. Truss has “trashed the last 10 years of workers’ Conservatism,” British media quoted Robert Halfon, chairman of the House of Commons …

Kwarteng acknowledges ‘tough’ day after U-turn over tax cut for rich
2 years, 5 months ago

Kwarteng acknowledges ‘tough’ day after U-turn over tax cut for rich

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 Kwasi Kwarteng urged Tories to …

Liz Truss has confidence in Kwasi Kwarteng despite 45p tax rate U-turn
2 years, 5 months ago

Liz Truss has confidence in Kwasi Kwarteng despite 45p tax rate U-turn

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. Hours before he had been due to tell the …

Nadine Dorries accuses Liz Truss of ‘throwing Kwasi Kwarteng under bus’ over tax cuts
2 years, 5 months ago

Nadine Dorries accuses Liz Truss of ‘throwing Kwasi Kwarteng under bus’ over tax cuts

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. Read our privacy policy Liz Truss has been accused of throwing chancellor Kwasi Kwarteng “under …

U.K. scraps tax cut for wealthy that sparked market turmoil
2 years, 5 months ago

U.K. scraps tax cut for wealthy that sparked market turmoil

The Hindu  

British Prime Minister Liz Truss was forced on October 3 into a humiliating U-turn, reversing plans to cut the highest rate of income tax that helped to spark a rebellion in her party and turmoil in financial markets. Ms. Truss, and her Finance Minister Kwasi Kwarteng, announced a new “growth plan” on Sept. 23 that would cut taxes and regulation, …

UK government makes tax cut U-turn after market turmoil
2 years, 5 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 …

UK Chancellor Kwasi Kwarteng to double down on tax cuts, promise fiscal responsibility
2 years, 5 months ago

UK Chancellor Kwasi Kwarteng to double down on tax cuts, promise fiscal responsibility

ABC  

The UK chancellor will double down on tax cuts in a speech a week after his mini-budget sent markets into a tailspin. Key points: Kwasi Kwarteng will vow to "stay the course" on planned tax cuts He and the prime minister have had to defend their plan after the pound hit record lows The mini-budget also prompted an emergency intervention …

Liz Truss government ‘undercutting’ institutions, says ex-Bank of England governor
2 years, 6 months ago

Liz Truss government ‘undercutting’ institutions, says ex-Bank of England governor

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. Read our privacy policy Liz Truss’s government has been “undercutting” the UK’s economic institutions with …

The Tories couldn’t be in a worse position – or worse led
2 years, 6 months ago

The Tories couldn’t be in a worse position – or worse led

The Independent  

Provided he lasts that long, Kwasi Kwarteng will have his fate sealed on 23 November. His party won’t let him reverse his tax cuts, and nor will they tolerate other tax hikes to make up for the lost revenues – approaching £50bn. Besides, Mr Kwarteng is far too proud to execute such a humiliating U-turn, and Liz Truss promised tax …

Kwasi Kwarteng will not resign as Liz Truss stands by Chancellor
2 years, 6 months ago

Kwasi Kwarteng will not resign as Liz Truss stands by Chancellor

The Telegraph  

Kwasi Kwarteng will not resign over the market turmoil that has followed his “mini-Budget” as Liz Truss confirmed that she would stand by the Chancellor. But the Chancellor, who on Friday promised a “new approach for a new era” as he set out the biggest tax-cutting measures in decades, is to stay at Number 11 amid early signs of discontent …

Kwarteng hints at more tax cuts to come as he rules out government borrowing limit
2 years, 6 months ago

Kwarteng hints at more tax cuts to come as he rules out government borrowing limit

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. Read our privacy policy Kwasi Kwarteng has hinted at more tax cuts ahead – and …

Truss defends tax cuts in pursuit of ‘decade of dynamism’
2 years, 6 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 …

U.K. slashes personal, corporate taxes in bid to spur economic growth
2 years, 6 months ago

U.K. slashes personal, corporate taxes in bid to spur economic growth

The Hindu  

Britain’s new government on September 23 announced a sweeping plan of tax cuts it said would be funded by borrowing and revenues generated by anticipated growth, as part of contentious moves to combat the cost-of-living crisis and bolster a faltering economy. The government’s two-pronged approach offers short-term help for homes and businesses struggling with soaring energy costs while betting that …

If Liz Truss and Kwasi Kwarteng’s ‘mini-Budget’ doesn’t create growth, the whole project could be doomed
2 years, 6 months ago

If Liz Truss and Kwasi Kwarteng’s ‘mini-Budget’ doesn’t create growth, the whole project could be doomed

The Independent  

Boris Johnson was often described as “the gambler”. But Kwarteng will add a further £30bn of permanent tax cuts promised by Truss – reversing the April rise in national insurance contributions, possibly as soon as November, at a cost of £13bn, and scrapping Rishi Sunak’s plans to raise corporation tax on business from 19 per cent to 25 per cent …

UK’s Truss says she’ll slash taxes despite economic crisis
2 years, 6 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 …

Liz Truss admits tax cuts will initially benefit rich more than poor
2 years, 6 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 …

UK's Liz Truss says she'll slash taxes despite economic crisis
2 years, 6 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 …

Kwarteng insists Truss would be ‘fiscally responsible’ as PM as he seeks to reassure markets
2 years, 6 months ago

Kwarteng insists Truss would be ‘fiscally responsible’ as PM as he seeks to reassure markets

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. Read our privacy policy Business secretary Kwasi Kwarteng, who is expected to be Britain’s next …

‘Complacent & irresponsible’ : Rishi Sunak's warning for Liz Truss in UK PM race
2 years, 7 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’s boosterish case for tax cuts doesn’t stand up to scrutiny
2 years, 7 months ago

Liz Truss’s boosterish case for tax cuts doesn’t stand up to scrutiny

The Independent  

In advanced democratic societies, the tilt to authoritarianism rarely happens overnight in some military coup d’etat with tanks on the streets and opposition politicians in jail. So it was, most frighteningly, during Donald Trump’s erratic time in the White House; and so it has also been during the past few years of Conservative government, with a marked acceleration in pace …

Truss and Sunak allies trade blows over tax plans ahead of Sky debate
2 years, 7 months ago

Truss and Sunak allies trade blows over tax plans ahead of Sky debate

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’s “dangerous” tax cut …

Liz Truss calls for tax cuts and says she is 'not taking anything for granted' in race to Number 10
2 years, 8 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 …

Tory leadership: Liz Truss’s tax cuts will damage public services and bust Treasury rules, economists warn
2 years, 8 months ago

Tory leadership: Liz Truss’s tax cuts will damage public services and bust Treasury rules, economists warn

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. The think tank warned of a “deterioration in the quality” of public services if, as …

Tory leadership contender Liz Truss announces she would axe planned hike in corporation tax
2 years, 8 months ago

Tory leadership contender Liz Truss announces she would axe planned hike in corporation tax

The Independent  

Liz Truss has announced she would scrap a planned multibillion-pound hike in corporation tax if she wins the race to succeed Boris Johnson in No 10. The foreign secretary, who has previously vowed to cut taxes from “day one” if she wins the Tory leadership contest, also said there would be a “temporary moratorium” on the green energy levy. open …

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