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The Latest Breaking News from Tax Cuts

Pound falls as Boris Johnson battles to stay in No10 with new Chancellor dangling more tax cuts

The pound began falling again on the foreign exchanges on Wednesday afternoon as the deepening political turmoil at Westminster unnerved investors.

Evening Standard

New Chancellor Nadhim Zahawi must battle rising prices and calls for tax cuts

There are mounting fears increased living costs could tip the UK into a recession.

The Independent UK

GOP states using COVID aid for tax cuts

COVID relief bill bans states from using the money to offset the cost of tax cuts so Republicans are suing

Salon

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Anthony Albanese to meet EU president– as it happened

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The Guardian - AU

Outgoing CBI boss calls for tax cuts to ease pressure on firms

Lord Bilimoria said "now is the time" for the Government to cut taxes to generate investment

Birmingham Post

Ministers fall as Macron loses absolute majority in French parliament

Eight weeks after his re-election as French president, Emmanuel Macron has lost the parliamentary majority he needed to push through promised tax cuts and pension reforms. Several ministers lost their seats. The left-wing coalition led by Jean-Luc Mélenchon will form the main opposition bloc in the National Assembly, followed by…

Radio France Internationale

London businesses ‘overwhelmed’ by soaring costs and staff shortages as ministers urged to cut taxes

The London Chamber of Commerce and Industry is demanding action from the Government to protect its members

Evening Standard

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No tax cuts in England before inflation is tamed, ministers suggest

Rishi Sunak and Michael Gove appeared to indicate that fellow Conservative MPs pushing for tax cuts would have to wait as such measures could fuel runaway inflation

Wales Online

Analysis-Brazil likely to waive over $20 billion in tax revenue as Bolsonaro tries to spur economy

Tax cuts are likely to cost over 110 billion reais ($21.5 billion) in Brazilian tax revenue this year, as President Jair Bolsonaro tries to ease inflation and spur the economy in an election year despite economists' warnings of blowback in 2023.

Reuters

Boris Johnson suggests no tax cuts until ‘spiralling’ inflation under control

‘We can’t do anything that inflames that further,’ No 10 source says

The Independent UK

Boris Johnson signals no cuts in taxes as inflation soars and UK economy shrinks again

The latest figures from the Office for National Statistics heighten fears that Britain is heading for a recession.

Daily Record

Boris Johnson signals personal tax cuts won’t be put ahead of cost-of living support

Mr Johnson said the Government’s current focus was trying to help millions of households cope with the ‘inflationary spike that we need to get through right now’

Evening Standard

Second Cabinet minister backs earlier tax cut ‘when we can afford it’

Northern Ireland Secretary Brandon Lewis said the move should be fast-tracked if circumstances allow.

The Independent UK

Boris Johnson wants tax cuts – but can he deliver them in time?

PM must act quickly as economy and household finances worsen, but Treasury is not sympathetic

The Guardian - UK

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Evening Standard

Taxes will definitely be cut, says Michael Gove as Tory MPs press Boris Johnson to act

The Levelling-Up Secretary made the unequivocal commitment as some Conservative MPs are calling for lower taxes soon

The Guardian - UK

A smart cabinet would be plotting to get rid of Johnson. This one is neither smart nor brave

The PM has picked ministers who owe him everything and do his bidding. They have a duty to the country but are shirking it, says Guardian columnist Martin Kettle

Daily Mirror

7 ways Tory rebels can't agree what they want - and that's bad for Boris Johnson

Boris Johnson will be relieved the 148 Tories who voted no confidence in him aren't all plotting as one group. But the fact they can't agree means he can't please them all at once - and a solution for one group will only enrage another

The Guardian - UK

Sajid Javid joins calls for tax cuts after revolt against Boris Johnson

Health secretary says Tory rebels should not seek rule change to allow another confidence vote against prime minister

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The Guardian - UK

Senior Tory MPs renew calls to Boris Johnson for urgent tax cuts

High-profile MPs back demand from Adam Smith Institute to reduce tax burden and ease cost of living crisis

The Independent UK

Johnson hints at tax cuts and warns against infighting as Tories decide his fate

Tory MPs are taking part in a confidence vote on Boris Johnson’s leadership as he battles to save his position.

The Independent UK

‘I’d do it again’ Boris Johnson says as he pledges tax cuts to Tory MPs

Also promised he would lead party to victory at the next general election

Al Jazeera

China pledges support for ailing economy, analysts doubt impact

Beijing says it will roll out additional tax cuts and postpone social security payments for firms to support growth.

The Hindu

Many States reluctant to cut fuel tax

They call for further cuts in Union taxes; Maharashtra bites fuel tax bullet

Reason

Ninth Circuit Concludes Arizona Has Standing to Challenge Conditions on COVID Relief Funds

Language in the American Rescue Plan Act prohibits states from using the funds "directly or indirectly" to offset lost revenues from tax cuts.

Daily Mirror

7 plans Rishi Sunak may have for your wallet after fury at cost of living 'dithering'

A business chief blasted 'what are we waiting for?' after Chancellor Rishi Sunak said 'the next few months will be tough' at a CBI dinner - and sources briefed out a flurry of unconfirmed tax changes

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