The Latest Breaking News from Tax Cuts

Liz Truss is battling to save her premiership as Chancellor Jeremy Hunt warned “eye-wateringly difficult” decisions were needed as he tore up her economic strategy. Mr Hunt scaled back the energy support package and ditched “almost all” the tax cuts announced by his predecessor Kwasi Kwarteng less than a month…

New U.K. Treasury chief Jeremy Hunt has reversed most of an economic package announced by the government just weeks ago, including a planned cut in income taxes

The First Minister tweeted in response to the new Chancellor’s emergency announcement.

Jeremy Hunt axed a series of tax cuts on Monday and signalled the energy support package will be more targeted next year as he raced to save Britain from more economic mayhem. In an emergency statement, the new Chancellor ripped up large parts of the “Kamikwasi” mini-budget with a blitz…

The new Chancellor has ditched promised tax cuts by his predecessor saying the basic rate of income tax will remain at 20p.

Latest updates: In BBC interview, Liz Truss refuses say if her vision is ‘dead’ and vows to fight next election

CORAL SPRINGS, Fla. — Gov. Ron DeSantis delivered both a traditional election season campaign pitch on Sunday — promising tax cuts —and touting the conservative social messaging — on gender, education and immigration — that have become hallmarks of his time in office.

The Treasurer may have ruled out making changes to the stage 3 income tax cuts in his first budget, but there is a growing push for more comprehensive tax reform from experts and the parliamentary crossbench.

The big question prior to Treasurer Jim Chalmers delivering the Albanese government’s first budget on October 26 has been whether it will seek to modify the “stage 3” tax cuts legislated by the Morrison government, with Labor’s support.