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The Latest Breaking News from Tax Cuts

Liz Truss in fresh peril as senior Tory MPs round on her over economy

PM accused of ‘trashing’ Conservative values and a PMQs performance that was ‘just appalling’

The Guardian - UK

Liz Truss under mounting pressure to make further tax cuts U-turn

Senior Tory suggests ‘further row back on the tax package’ needed to calm financial markets after PM rules out public spending cuts

Evening Standard

Labor's new plan to slash consultancy bill

The finance minister has outlined a new plan to cut back on consultancy fees while the treasurer has promised to leave controversial stage three tax cuts alone.

AAP

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All Liz Truss's biggest U-turns exposed - and the ones that are yet to come

From fracking, windfall taxes and tax cuts to Britain's relationship with Emmanuel Macron, Liz Truss is no stranger to a change of heart - and there's plenty more to come from the flip-flopping PM

Daily Mirror

Top Tory warns tax cuts U-turn WILL happen as 'pyromaniac' government refuse to back down

Mel Stride, who chairs the influential Treasury Select Committee, says he is among those who expects Chancellor Kwasi Kwarteng will have to row back further when he announces full financial plans

Daily Mirror

Keir Starmer scolds Liz Truss as PM promises no cuts to public spending despite '£60bn needed'

Labour leader Keir Starmer probed the Prime Minister in the House of Commons on her mini-budget which sent the markets into turmoil due to unfunded tax cuts.

Daily Record

‘Dystopian soundbites’: Tory minister under fire for suggesting tax cuts for women who have more children

‘Tax cuts to mums for having kids is completely pointless and actually just insulting when we have the second most expensive childcare system, and the third worst maternity pay in Europe,’ campaigner says

The Independent UK

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Federal Labor's honeymoon continues in Resolve poll; can the Liberals regain office without those 'lefties'?

A federal Resolve poll for Nine newspapers, conducted October 5-9 from a sample of 1,604, gave Labor 39% of the primary vote (steady since September), the Coalition 30% (down two), the Greens 12% (up two), One Nation 5% (down one), the UAP 3% (up one), independents 9% (up one) and…

The Conversation

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

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

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Daily Record

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.

The New Daily

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.

Daily Mirror

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

Newsroom.co.nz

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?

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The Guardian - UK

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 - AU

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 - 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”.

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

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