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The Latest Breaking News from Tax Cuts

This generation of politicians has killed fiscal responsibility–but millennials and Gen Zers will be the ones who pay the price

During the next presidential term, publicly held debt is projected to exceed its Second World War highs.

Fortune

Jeremy Hunt may get ‘wiggle room’ for pre-election tax cuts after lower public borrowing than forecast

Chancellor Jeremy Hunt may get some “wiggle room” for pre-election tax cuts after lower public borrowing than forecast.

Evening Standard

Liz Truss urges PM to cut taxes and ditch some green commitments

The former PM concedes that she and Kwarteng were in a ‘rush’ to get ‘results’

The Independent UK

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Unfair to call my mini-budget tax cuts unfunded, Truss to claim

The former PM will urge the Government to cut taxes, shrink welfare spending and raise the retirement age in a speech explaining her economic vision.

The Independent UK

New Zealand voters search for relief from ‘shocking’ living costs as election looms

Tax cuts and cheaper fruit among Labour and National party plans to address rising cost of living pressures as people once comfortable are swept into crisis

The Guardian - AU

Trump plots tax cuts as poverty rises

Trump and his advisors are setting sights on an aggressive tax cut plan to push during his 2024 campaign

Salon

State pension to rise due to record wage growth but Jeremy Hunt warns tax cuts ‘unlikely’

The bumper wage growth will also pile pressure on the Bank of England to raise interest rates yet again later this month

The Independent UK

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Robbing the poor to fund tax cuts for the rich – Britain is a Tory test lab for a new rightwing populism

Freezing benefits in order to slash taxes for wealthy voters? It’s nakedly obvious who this government really cares about, says Guardian columnist Owen Jones

The Guardian - UK

High UK inflation makes autumn tax cuts unlikely, says Jeremy Hunt

Warning against pumping ‘money into people’s pockets’ comes amid hints Bank of England will again raise rates

The Guardian - UK

Sunak refuses to make pensions triple lock election commitment

PM says he will not speculate over policy as he grapples with how to fund tax cuts demanded by Tory MPs

The Guardian - UK

Jeremy Hunt considers benefits cuts to provide pre-General Election tax cuts

RISHI Sunak declined to rule out real-terms cuts to benefits amid suggestions the move could be taken to free up cash for tax cuts ahead of the next…

The National (Scotland)

Tory row brews as Hunt considers squeezing benefits to fund tax cuts

Truss allies dramatically accuse chancellor of wasting chance to raise £4 billion

The Independent UK

Brian Tamaki and Nats' tax cuts light a fire in Labour

Labour leader Chris Hipkins regains his mojo, launching his party's election campaign with a big policy carrot and a lot of help from planted protesters and National's big play on tax

Newsroom.co.nz

Labour and National kick climate can down the road

Comment: As long as the two Chrises make the right noises about fighting the climate crisis, they don't have to worry about actually doing anything, writes Marc Daalder.

Newsroom.co.nz

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Newsroom.co.nz

National's 'carbon dividend' takes climate cash for tax cuts

National says its tax plan includes a "carbon dividend" but economists say the party is wrong and the policy won't accomplish what it promises.

Newsroom.co.nz

National's tax plan: What you need to know

National says its tax cuts are targeted to the median earner, though families with children and landlords also get special attention in the $14.6b package.

The Guardian - AU

Labor is nibbling at tax reform but revamping stage three cuts is too big to swallow

The intergenerational report shows cuts will be needed in the medium to long term to prevent workers paying an ever-growing share of the total take

The Guardian - UK

The Guardian view on Tory MPs and tax cuts: the desperate demanding the delusional

Editorial: The Conservative fixation on shrinking the state is fiscally reckless and detached from political reality

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The Guardian - UK

Dorries claims she is ‘working daily’ on behalf of her constituents amid calls for her to resign – as it happened

She made the comment in response to repeated claims she is neglecting her duty as an MP

The Guardian - AU

From Aukus to tax cuts: six things to watch for at Labor’s national conference

Expect a ‘little bit of a bizarro world’ with the policy fights largely already settled, one insider says. Still, some debates will be worth watching

The Guardian - UK

Tax cuts would put ‘scary’ UK finances in greater danger, warns top economist

Paul Johnson, of the Institute for Fiscal Studies, issues plea for honesty from Labour and the Conservatives about tax and spending choices ahead of election

The Guardian - UK

Kwasi Kwarteng admits mini-budget turmoil affected his mortgage

Former chancellor says payments went up ‘considerably’ after his tax cuts sent borrowing costs spiralling

The Guardian - UK

Sunak under pressure as Bank signals rates will stay high for months

Tory MPs call for targeted tax cuts as Labour criticises 14th interest rate hike as ‘mortgage bombshell’

Kiplinger

Virginia Tax-Free Weekend Gone Despite Massive Budget Surplus

For the first time in years, Virginia shoppers won’t have a back-to-school sales tax holiday in August.

The Texas Tribune

Billions in property tax cuts need Texas voters’ approval before taking effect. Here’s what you need to know.

Legislation passed this month would raise the state’s homestead exemption to $100,000, lower schools’ tax rates and put an appraisal cap on residential and commercial properties, among other measures. But voters must approve a constitutional amendment first.

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