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The Latest Breaking News from Tax Cuts

UK facing 1970s-style balance of payments crisis under Liz Truss

Tax cuts and spending pledges could alarm global markets and trigger a 30% collapse in sterling, Deutsche Bank warns

The Guardian - UK

Liz Truss To Become UK's Next Prime Minister

Liz Truss will become the next prime minister after defeating Rishi Sunak in the Conservative Party leadership contest. Ms Truss, who was the favorite to win the contest, will succeed Boris Johnson and become the nation's third female leader. She secured just over 81,000 to Mr Sunak's just over 60,000.…

Evening Standard

Truss’s premiership ‘will be defined by response to cost-of-living crisis’

As Liz Truss grapples with the economic situation, planned measures may be postponed or cancelled, and others may be introduced, experts suggested.

The Independent UK

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Liz Truss faces a financial whirlwind – will her plans for the economy work?

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. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of energy and other goods.

The Conversation

What can we expect from a Liz Truss government?

The new prime minister faces a number of issues that require immediate attention, writes Kate Devlin

The Independent UK

Liz Truss as Prime Minister will be the wrong right turn for Britain

Record View writes Scots must brace themselves today for the most avowedly right-wing prime minister since Margaret Thatcher.

Daily Record

Liz Truss warns she will make unpopular decisions as prime minister and defends tax cuts for wealthy

On cost of living crisis the likely new prime minister says ‘Britain has been through worse’

The Independent UK

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

Former Tory chancellor warns they will add to inflation

The Independent UK

Liz Truss says her tax cuts are 'fair' in front of big graph showing they help the rich

The likely next Prime Minister insisted it was 'fair' to forge ahead with a National Insurance cut - despite being confronted with a stark graph live on the BBC

Daily Mirror

Liz Truss claims tax cuts for the rich are 'fair' as she refuses to detail what help will come with energy bills

The front-runner to be the next Prime Minister defended her tax-cutting plans

Daily Record

The Observer view on the energy crisis: the price of warm schools mustn’t be fewer teachers

Forget costly tax cuts, a plan to support those most at risk from this looming disaster has to be the new prime minister’s first order of business

The Guardian - UK

Tax cuts for businesses and help on way for families, says Chancellor Nadhim Zahawi

Nadhim Zahawi is believed to have discussed plans with Liz Truss who is favourite to be the next prime minister

Wales Online

Albanese claims he can’t stop them, but the stage three tax cuts threaten his political legacy

The cuts benefit the wealthy over the strugglers, ploughing fertile ground for conspiracy theorists to accuse MPs of looking after themselves

The Guardian - AU

What might Liz Truss do about soaring energy bills?

Options, if Truss takes over as PM, range from her favoured tax cuts to household energy bill plans aiding the worst off

The Guardian - UK

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The Conversation

Tory leadership race: will Liz Truss's tax cut proposals win her votes? Here's what voter data says

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. There is the worst cost of living crisis in 50 years, a war in Europe, an antagonistic relationship with the EU and divisions within the…

The Conversation

Grattan on Friday: Should Anthony Albanese keep his word on the Stage 3 tax cuts?

The final, mega stage of the Coalition’s tax cuts, worth more than $240 billion over a decade, is now in the gun sights of many critics, who are calling for Anthony Albanese to dump his promise to deliver it.

The Guardian - AU

The stage three tax cuts are a pile of garbage, and everybody knows it

Anthony Albanese could learn a thing or two from Bob Hawke, who walked back tax cuts promised ahead of the 1983 election

The Independent UK

States tapping historic surpluses for tax cuts and rebates

State governments flush with money are returning billions of dollars to their residents

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The New Daily

MPs lean on Anthony Albanese, but dumping of tax cuts quashed

Senior Labor sources last night quashed speculation that the government was giving itself room to dump the controversial stage three tax cuts.

The Guardian - AU

Lawyer reveals dementia diagnosis after guilty verdict – as it happened

This blog is now closed

The Guardian - AU

Morning mail: tax cuts to ‘turbocharge inequality’, parental leave call, sea level rise locked in

Tuesday: A new analysis shows the $243bn in tax cuts, due to start in 2024, would benefit Australia’s richest 1% as much as the poorest 65% combined. Plus: moon rocket launch delayed

The New Daily

Delivery will determine the success of Albanese’s jobs summit

How Anthony Albanese delivers on the expectations his gesture politics have built up will be critical to the success of his two-term strategy of government.

Pedestrian.tv

Anthony Albanese Is Copping Heat For Refusing To Ditch Tax Cuts That’ll Benefit Rich People

Once the tax cuts are introduced, it'll mean everyone earning between $45,000 and $200,000 will pay 30 per cent in tax.

AAP

Liberal MP calls for tax cut scrapping

A veteran Liberal backbencher has advocated for the dumping of the coalition's stage three tax cuts due to come into force in 2024.

ABC News

Liberal MP says stage 3 tax cuts should be scrapped, as Anthony Albanese stands firm

Prime Minister Anthony Albanese reaffirms his party's commitment to keep stage 3 tax cuts for high income earners, despite growing calls for them to be delayed or scrapped.

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