Trussonomics will certainly challenge the dull orthodoxy of declinism September 21, 2022 Is Britain gripped by the orthodoxy of managed decline? It does appear so. Yesterday saw the Institute of Fiscal Studies, the respected economic wonk shop, bemoan Liz Truss’ tax cuts as piling on debt in a time of poor economic growth. Another, the Institute for Public Policy Research, has rubbished the idea that tax cuts [...]
Liz Truss tax cuts must be bolder to revive UK economy, Thatcherite thinks tank claims September 21, 2022 Liz Truss must be even bolder than cancelling the corporation tax rise to unlock the UK’s full economic potential, a Thatcherite think tank has claimed today. The prime minister’s chancellor, Kwasi Kwarteng, is expected to reverse the six percentage point corporation tax hike at this Friday’s mini-budget. The move will generate a 1.2 per cent [...]
Truss hires former energy exec as new business liaison head September 21, 2022 Liz Truss has hired former EDF Energy executive Michael Stott as new head of business liaison for Downing Street. Stott is to become Truss’s key leader of business relations and engagement strategy, Sky News learned today. He is replacing Alex Hickman who held the role for two years under Boris Johnson. The newest business figure [...]
Truss tells Wall Street execs that she wants ‘lower, simpler taxes in the UK’ September 21, 2022 Liz Truss has declared she will deliver “lower, simpler taxes” to drive investment during a charm offensive of powerful Wall Street executives. The Prime Minister told the group of 15 business leaders during a New York roundtable that her plans will “make us a better place to invest and be unashamedly pro-business” and make the [...]
UK government to open negotiations with striking barristers following ‘constructive’ meeting September 21, 2022 The Criminal Bar Association (CBA) has said it will call off a demonstration, planned for this Thursday, following an introductory meeting with the UK’s new justice secretary Brandon Lewis. In a joint statement, the CBA and Bar Council said the introductory meeting had been “constructive” as the barrsiters’ trade bodies said “detailed conversations now will [...]
Rees-Mogg hints schools, hospitals and care homes will get extended energy support September 21, 2022 Jacob Rees-Mogg has hinted schools, hospitals and care homes will get energy support for longer than the initial six months outlined for all businesses. The business secretary today said that “schools and hospitals and care homes are obviously going to be able to need to afford their energy in a year’s time”, while also emphasising [...]
UK government borrowing double than expected September 21, 2022 The UK government borrowed nearly double the amount than expected last month to fund the first stages of the cost of living care package, official figures published today show. Britain’s debt pile swelled £11.8bn in August, much higher than the country’s official forecaster, the Office for Budget Responsibility (OBR), projected £6bn at the March budget, [...]
Russia holds its breath as Putin mobilises hundreds of thousands amid risk Ukraine war may turn nuclear September 21, 2022 The Russian president announced earlier this morning a partial military mobilisation, with 300,000 reservists set to be called up as the Kremlin attempts to regain ground in the face of a counter-attack by Ukraine’s forces. Vladimir Putin warned Russia would use “all the means at our disposal” to protect itself as the conflict in Ukraine [...]
Government unveils energy support package to ‘stop businesses collapsing’ September 21, 2022 Firms have been given a boost in dealing with the energy crisis through a government discount, with the chancellor saying it “stepped in to stop businesses collapsing”. Plans were unveiled this morning, cutting prices for non-domestic energy customers, while suppliers will reduce wholesale costs to help families. The measures, announced by the department for Department [...]
Liz Truss planning to cut stamp duty as ‘rabbit’ in mini-budget September 21, 2022 Liz Truss and Kwasi Kwarteng are planning to cut stamp duty as the ‘rabbit’ in forthcoming mini-budget. Britain’s new prime minister will announce plans in a bid to spur growth in the UK economy. Reported in the Times, Truss and her new chancellor have been working on plans for over a month, before she was [...]