Mini-budget to be delivered on Friday with Truss unleashing radical tax cuts

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Prime Minister Liz Truss is currently in New York attending the annual United Nations General Assembly. Picture by Simon Dawson / No 10 Downing Street

Prime Minister Liz Truss has said she will deliver radical tax cuts this week proclaiming: “We are entering a new era.”

In an interview with Sky News Ms Truss said she would “look at all tax rates” as she seeks to get the UK economy booming again.

The Prime Minister said:

“What is important to me is we grow the British economy because that’s what will ultimately deliver higher wages, more investment in towns and cities across the country.

“That’s what will ultimately deliver more money to people’s pockets.

“In order to get that economic growth, Britain has to be competitive.

“If we put up taxes, if we have arbitrary taxes on energy companies, if we have high corporation tax we’re not going to get that investment and growth.”

Speaking in New York where she is attending the United Nations General Assembly, the Prime Minister added:

“We are entering a new era. It is a more insecure era, we face an increasingly aggressive Russia and assertive China.

“We need to work more closely with our allies and we also need to get the British economy growing so that we have that security for all of our citizens.

“What I’m about and what my Government is about is about delivering for people, making sure that people have the jobs, the opportunities and the future that they can rely on.”

Chancellor Kwasi Kwarteng is set to deliver a mini-budget in the House of Commons to implement the tax changes on Friday.

Photo licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 2.0 Generic License.

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