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The Latest Breaking News from Tax Cuts

Liz Truss and Rishi Sunak supporters go to war over ‘flip flop’ tax promises

Senior Tory MP Sir John Redwood has accused the former chancellor of flip-flopping over tax cuts that he once said were unaffordable

Evening Standard

Sunak effectively rules out serving in a Truss cabinet, suggesting they don’t agree on ‘big things’ – as it happened

Tory leadership candidate says he is focused on race for No 10; energy bosses call for end to battle so new PM can tackle bills crisis

The Guardian - UK

Truss poised to plunge UK economy into ‘inflation spiral’, says Sunak

Truss cannot deliver £50bn tax cuts and support packages without pushing debt to dangerous levels, says Tory leadership rival

The Guardian - UK

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Tory MP warns poor will be 'on the streets' under Liz Truss's £50bn 'magic money tree'

Kevin Hollinrake, a supporter of Rishi Sunak, gave a devastating verdict on the likely next Prime Minister's 'magic money tree' tax cuts - not to mention 12 years of Tory government

Daily Mirror

Liz Truss will cause inflation spiral with ‘dangerous’ tax cuts, Rishi Sunak warns

Tory leadership contest rattles on as Labour poll lead grows

The Independent UK

Rishi Sunak’s camp tells Liz Truss to ‘come clean’ over ‘dangerous’ tax plans

The former chancellor’s team said the Foreign Secretary’s plans could force public finances into ‘serious jeopardy’.

The Independent UK

Labour lead over Conservatives grows over fears of Liz Truss prioritising tax cuts over cost of living crisis

Allies of Liz Truss have promised 'help is on the way' after a series of polls gave Labour a growing lead and senior Tories criticised her tax cutting plans.

Daily Record

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Ken Clarke: ‘The idea that tax cuts will automatically produce growth is nonsense’

The veteran Tory, who stood three times to lead his party, on the cost of living crisis, today’s political culture and the best PM we never had

The Guardian - UK

The Observer view on Liz Truss and Rishi Sunak’s tax cut promises

The Conservative leadership contenders are blind to the dire lack of investment in a crumbling UK

The Guardian - UK

Joyce says Qantas ‘not good enough’ in apology over airport chaos – as it happened

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The Guardian - AU

Labour surges as Tory fears grow over Truss’s tax cut agenda

Likely PM’s policies will mean ‘big trouble’, say critics, as Starmer’s energy price initiative boosts him in polls

The Guardian - UK

Tory rivals warned tax cuts could worsen pressures on public spending

Truss defiant as Sunak seizes on stark IFS report to attack her economic plans

Wales Online

Tax cuts pledged by Liz Truss and Rishi Sunak not possible without slashing spending, economists say

Institute for Fiscal Studies criticises Tory leadership contenders for failing to be upfront about economic crisis

The Independent UK

Tory leadership tax cut promises ‘hard to square’ with UK’s future, experts warn

The Institute for Fiscal Studies said ‘permanent tax cuts’ could exacerbate pressures on the public purse.

The Independent UK

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The Independent UK

Voters will never ‘forgive’ Tories refusing to act on energy bills crisis, Rishi Sunak warns party

Shadow chancellor condemns ‘moral failure’ of rival’s plans – but Liz Truss sticks to guns on tax cuts

Wales Online

Four economists on ways to tackle UK cost of living crisis

Political leaders from all major UK parties have put forward proposals to relieve the cost of living crisis this winter

The Conversation

How to tackle the UK cost of living crisis – four economists have their say

UK inflation, already at 40-year highs, could pass 13% in October, according to Bank of England forecasts. While wages have not kept pace with inflation, much of the expected squeeze on households and businesses is down to rising energy costs.

The Independent UK

Businesses and wealthy people ‘handed £36bn tax cuts under Rishi Sunak’

Tax Justice UK calculates at least £35.8bn handed to businesses in tax cuts

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Daily Mirror

Liz Truss's tax cuts could leave the poorest Brits 'at risk of destitution', Sunak warns

The Tory leadership hopeful said the Foreign Secretary's economic plans would fail to help pensioners through the energy price crisis which would be a 'moral failure' for Conservatives.

The Independent UK

Truss putting millions of vulnerable people ‘at risk of real destitution’, says Sunak

Former chancellor blasts foreign secretary’s focus on tax cuts as ‘moral failure’

The Conversation

Gordon Brown economics versus Liz Truss tax cuts: a new twist in the battle to resolve the UK’s cost of living crisis

The ongoing Conservative Party leadership hustings haven’t seen much agreement between candidates, but they have resulted in the creation of a new political narrative: “Gordon Brown economics”. Foreign secretary Liz Truss explained away her rejection of cost of living “handouts” for households with the phrase. But even as she indicated…

The Guardian - UK

The post-Johnson era is taking shape — and it looks like a massive lurch to the right

Fixated on the tax cuts beloved of Tory members, Truss and Sunak have no plan at all to deal with the UK’s looming crises, says Guardian associate editor Martin Kettle

AAP

Ideas welcome but tax cuts stay: Chalmers

Treasurer Jim Chalmers says the government is keen to hear from as many groups as possible at the upcoming jobs and skills summit, including the opposition.

Evening Standard

Liz Truss: It’s tax cuts vs ‘Gordon Brown economics’

This Conservative leadership contest is getting weirder. It started out straightforwardly enough. Rishi Sunak was the MPs’ favourite (though at no stage did he command anything approaching majority support) with a pitch based on ‘sound money’ and tax cuts soon but not now.

The Independent UK

German FinMin pitches $10B tax cut plan to dampen inflation

Germany’s finance minister says the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation

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