The Latest Breaking News from Tax Cuts

Shadow chancellor condemns ‘moral failure’ of rival’s plans – but Liz Truss sticks to guns on tax cuts

Political leaders from all major UK parties have put forward proposals to relieve the cost of living crisis this winter

UK inflation, already at 40-year highs, could pass 13% in October, according to Bank of England forecasts. While wages have not kept pace with inflation, much of the expected squeeze on households and businesses is down to rising energy costs.

Ditching the stage three tax cuts would be a disaster for Labor and a welcome fillip for a divided opposition.

Tax Justice UK calculates at least £35.8bn handed to businesses in tax cuts

The Tory leadership hopeful said the Foreign Secretary's economic plans would fail to help pensioners through the energy price crisis which would be a 'moral failure' for Conservatives.

Former chancellor blasts foreign secretary’s focus on tax cuts as ‘moral failure’

The ongoing Conservative Party leadership hustings haven’t seen much agreement between candidates, but they have resulted in the creation of a new political narrative: “Gordon Brown economics”. Foreign secretary Liz Truss explained away her rejection of cost of living “handouts” for households with the phrase. But even as she indicated…

Fixated on the tax cuts beloved of Tory members, Truss and Sunak have no plan at all to deal with the UK’s looming crises, says Guardian associate editor Martin Kettle

Treasurer Jim Chalmers says the government is keen to hear from as many groups as possible at the upcoming jobs and skills summit, including the opposition.

This Conservative leadership contest is getting weirder. It started out straightforwardly enough. Rishi Sunak was the MPs’ favourite (though at no stage did he command anything approaching majority support) with a pitch based on ‘sound money’ and tax cuts soon but not now.