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The Latest Breaking News from Tax Cuts

White House: GOP plans would drive deficits up $3 trillion

President Joe Biden plans to go on the offensive against Republicans by saying their policies would add $3 trillion to the national debt

The Independent UK

More than half of states are considering personal income tax cuts this year

"States’ rainy day funds have never been better stocked."

Fortune

Liz Truss allies to put pressure on Hunt to offer tax cuts in budget

Chancellor has warned it is unlikely there will be significant tax cuts as he focuses on getting inflation down

The Independent UK

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Truss allies’ calls for sweeping tax cuts fuel further Tory infighting

Some MPs accuse former prime minister of damaging party with her comeback weeks before budget

The Guardian - UK

Liz Truss admits she didn’t understand ‘tinderbox’ pension problem prior to mini-Budget disaster

Former PM says she has no desire to return to No 10 and vows to keep pushing for tax cuts

The Independent UK

Shameless Liz Truss blames Tories for not being right-wing enough after economic failure

Truss, who has now been an ex-PM over twice as long as the 49 days she was in the top job, moaned about her party’s failure to back her catastrophic mini-Budget plans for £47billion of unfunded tax cuts.

Daily Mirror

Truss points the finger of blame for failed economic growth plan

No 10 will be watching to see if her intervention leads to new demands from Tory MPs for tax cuts.

The Independent UK

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Liz Truss' own Home Secretary says her plan 'clearly' wasn't right and ignored 'reality'

In a 4,000 word screed, Liz Truss blamed everyone from the "economic establishment" to Joe Biden for getting in the way of her bonkers plan for unfunded tax cuts - but even her own ministers say her plan was to blame

Daily Mirror

Truss was right to argue for tax cuts, says ex-Tory chairman

The former prime minister has defended her policies as Rishi Sunak faces demands from some Conservative MPs to reduce the tax burden.

The Independent UK

UK’s Shortest-Serving PM Liz Truss Blames Economic ‘Orthodoxy’ for Downfall

Former British prime minister Liz Truss blamed on Sunday the economic "orthodoxy" in the country's finance ministry, other nations and in parts of the governing Conservative Party for derailing her premiership and "plan for growth". Truss's tenure was cut short last year after her largely unfunded mini budget and tax…

Asharq Al-Awsat

Europe in Crossfire of US-China Economic Rivalry

The economic confrontation between the United States and China has put Europe in the crossfire, with Washington's plan to boost green industries threatening to cause collateral damage to a key ally. The United States has adopted the Inflation Reduction Act (IRA), which contains $370 billion in sweeping investments, subsidies and…

Asharq Al-Awsat

Boris Johnson backs tax cuts to boost economic growth

Johnson said he had 'no doubt' the Government would get the tax burden down 'when the time comes'

Wales Online

Cheaper petrol only adds fuel to the fire

By extending the fuel excise duty cut, the Government is encouraging people to drive more, which will only worsen the climate challenges we face in the very near future, says Dr Timothy F Welch

Newsroom.co.nz

Extended petrol subsidy drives emissions gap

James Shaw says his Labour colleagues need to work with him to plug the emissions gap created by extending the fuel tax cuts.

Newsroom.co.nz

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The Guardian - UK

Truss and Brexit have sunk Britain’s economy – and the right is in deep denial about both

The global economy is hardly booming, but the UK is at the bottom of the pile of developed nations for two clear reasons, says Guardian columnist Martin Kettle

Evening Standard

Rishi Sunak’s first 100 days — Raab, Zahawi and the ‘anti-tax loons’

Personnel dramas, infighting and growing fissures caused by the ‘anti-tax loons’ are threatening to de-rail Sunak. Amidst intimidating new statistics from the IMF, can the PM prove his naysayers wrong, asks Anne McElvoy

The Guardian - UK

Tory MPs urge Hunt to bring forward tax cuts after bleak IMF forecast

Chancellor defiant as pressure mounts with warning from within that party could face end of an era in government

The Independent UK

Jeremy Hunt resists calls from ‘depressed’ Tory MPs to commit to tax cuts

The chancellor has repeatedly warned his first priority is to get sky-high inflation under control

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The Independent UK

Hunt faces calls for tax cuts and fuel duty freeze from Tory backbench MPs

The Chancellor did not rule out a fuel duty hike during a grilling by the 1922 Committee, according to MPs who attended.

AAP

Pressure builds to ditch tax cuts in next budget

A leading welfare group says increasing government support payments would cost less than planned tax cuts for the wealthy and lift millions out of poverty.

Evening Standard

Don’t believe the spin — Rishi Sunak is weaker than ever post-Zahawi

Hard as it always is to say when the rust set in, I think the deciding moment was the immediate aftermath of Boris Johnson’s resignation on July 7. Faced with the rubble of what amounted to an ethical crash — the long disaster of partygate and the allegations of sexual…

The Texas Tribune

Here’s what you need to know about the fight over property tax cuts in the Texas Legislature

Republicans are wrestling over how much of the state’s nearly $33 billion budget surplus to spend on property taxes. Democrats have their own ideas about what to do with the cash.

The Independent UK

Jeremy Hunt urges millions of early retirees to return to work as he insists tax cuts must wait

Chancellor promises reforms to get people with long-term conditions or mental illness back into jobs

The Independent UK

UK Treasury chief: Tax cuts must wait for inflation to fall

Britain’s Treasury chief says taming inflation is more important than cutting taxes

The Guardian - UK

Jeremy Hunt says tax cuts will only come ‘when the time is right’

Chancellor aims to temper Tory backbenchers’ hopes as he blames UK woes on ‘economic headwinds’

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