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.
The proposed “full fat freeports” were a staple of Truss’ campaign for the Tory leadership, with the planned areas having low-tax burden, reduced planning restrictions and regulations tailored on a case-by-case basis.
