Liz Truss is considering plans to slash personal taxes in addition to business levies in new “investment zones” as she seeks to set the wheels of her economic strategy in motion. Those who live and work in the low-tax areas envisaged by the Prime Minister could see their own contributions cut, with the burden also lightened for firms - although no decisions have yet been made, it is understood.
The proposed “investment zones”, dubbed “full fat freeports”, were a staple of Ms Truss’s campaign for the Tory leadership. Under her plan, Ms Truss said these areas would benefit from a low-tax burden, reduced planning restrictions and regulations tailored on a case-by-case basis.
The Sun on Sunday reported that the new PM is now weighing up whether personal taxes could be cut for people working there. With speculation building over the direction policy will take when politics returns to normal, it has also been suggested Ms Truss could lift the ban on new grammar schools within months.
