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The Latest Breaking News from Tax Cuts

Pound falls sharply against dollar after Bank confirms bond-buying end date

Sterling falls more than a cent to below $1.10 after Andrew Bailey tells pension firms they have ‘got to get this done’

The Guardian - UK

No 10 reviews Kwarteng’s mini-Budget measures following market turmoil

Exclusive: Staffers told to undertake line-by-line scrutiny to see if changes are needed

The Independent UK

Kwasi Kwarteng’s tax cuts will benefit richest amid dividend boom – report

Since pandemic shareholders have enjoyed large payouts at time of meagre workers’ pay growth, thinktanks find

The Guardian - UK

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IMF criticises Kwarteng again over tax cuts and energy package

Fund says chancellor’s measures have made Bank of England’s battle against inflation more difficult

The Guardian - UK

Chancellor’s tax giveaways mean ‘painful’ £60bn spending cuts, IFS warns

The government must slash spending by £60bn and risk political turmoil to get debt under control unless it abandons plans for lower taxes, a leading economic think tank has warned

The Independent UK

Unfunded tax cuts mean UK ‘will need £60bn spending cuts’

IFS says Kwasi Kwarteng’s mini-budget will leave ministers making serious reductions in public services

The Guardian - UK

Unearthed 2018 clip shows Liz Truss warn tax cuts like hers could lead to 'boom and bust'

The clip, taken in 2018, showed the PM appearing to contradict her £43billion plan to slash taxes, which will increase the national debt.

Daily Record

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Stage-three tax cuts spark bigger question about trust in government

Treasurer Jim Chalmers is bracing for grim news this week in Washington DC from the world’s pre-eminent financial movers and shakers.

The New Daily

Liz Truss warned tax cuts like hers could lead to 'boom and bust' in unearthed 2018 clip

The embarrassing footage from when Liz Truss was at the Treasury appears to contradict her £43billion plan to slash taxes, which will hugely increase the national debt

Daily Mirror

Taxing times: What's on the table for tax cuts?

A record tax take, a better than expected deficit - could tax cuts be on the table going into next year's election?

Newsroom.co.nz

The Tory minister’s ‘bonking for Britain’ idea is a vile vision lurking behind cheeky Carry On imagery

The anonymous politician said women could get tax cuts for having more babies. That’s taking a leaf out of Viktor Orbán’s play book

The Guardian - UK

Albanese gives strongest indication yet stage-three tax cuts are here to stay

Prime minister says he’ll stick to election promise as Defence is told to tighten its belt ahead of looming budget

The Guardian - AU

Time for some consistency on political integrity — it’s not only Libs or Nats who get tempted to lie

What does it mean for political integrity if Labor dumps the tax cuts? We need to apply the same standards to Albanese as we did to Morrison.

Crikey

Say it again, Albo

Prime Minister Anthony Albanese says over and over again that his government’s position on the stage three tax cuts hasn’t changed, and the rain just keeps on coming on the east coast.

Crikey

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The Guardian - UK

Liz Truss’s economic plans are more anti-growth than those of her critics

AAP

PM insists 'no change' on income tax cuts

Senior ministers insist they're sticking to their election promise of keeping significant income tax cuts as the Greens warn the policy will restrict spending.

The Guardian - US

Why is trickle-down economics still with us?

This gonzo economic theory continues to live on, notwithstanding its repeated failures

The Conversation

Albanese insists tax position 'hasn't changed', as the government targets defence delays

Anthony Albanese on Sunday insisted the government’s intention to deliver the Stage 3 tax cuts has not changed, while he reinforced the expectation of deep spending cuts in this month’s budget to attack “waste”.

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The Independent UK

‘Catastrophe’: Warning that benefits cut would plunge 200,000 more children into poverty

Liz Truss urged to abandon plan to fund tax cuts by increasing payments for poorest in line with wages rather than inflation

The Guardian - AU

Albanese urged not to ‘lose the moment’ for tax reform as he squashes debate on stage-three cuts

Economists say the tax cuts are unaffordable and should be trimmed or changed, either now or in May

ABC News

Federal government appears set to maintain stage 3 tax cuts in this month's budget despite mounting speculation

The federal government is unlikely to change income tax cuts that will predominantly benefit high and middle-income earners in this month's budget.

The Guardian - AU

Stage-three tax cuts: what are they, how do they work and why do they exist?

They’re the biggest debating point ahead of the Labor government’s October budget, but what actually are the stage-three tax cuts?

AAP

PM doubles down on tax cut continuity

Debate rages over whether Labor is considering amending legislated tax cuts but Prime Minister Anthony Albanese says there are no plans to change course.

The Guardian - AU

Growing number of Australians want the stage-three tax cuts scrapped, poll shows

Public opinion for repealing the package now sits at 48% as people become better informed about the consequences

The Guardian - UK

Freeze state pensions and slash ‘non-frontline’ NHS and schools staff, said No 10’s economic adviser

Radical ideas to reduce spending, outlined in Matthew Sinclair’s 2010 handbook, may now be needed by the Tories to pay for their tax cuts

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