Truss's team are learning that you can't fight the laws of economics...and we're all paying heavily for their catch-up tuition classes!
I suspect Truss could be tempted to borrow Gove's knife-sharpener on Friday assuming the IMF release Kwarteng.
Unless she's too busy putting up Corporation Tax!
Quote:
Liz Truss may raise corporation tax in further budget U-turn
Liz Truss is on the brink of putting up corporation tax as part of a Downing Street plan to back down from the huge package of unfunded tax cuts in her mini-budget, sources claim.
The move would represent a massive climbdown as her promise to cancel Rishi Sunak’s plans to put up corporation tax from 19% to 25% was a central pledge of her leadership campaign.
One government source told the Guardian that No 10 officials – rather than their Treasury counterparts – were reviewing the mini-budget in order to shore up Truss’s premiership after the disastrous economic growth plan last month.
Another source suggested that the option of raising corporation tax was “on the table” in the prime minister’s efforts to balance the books – although this could be by just one or two percentage points.
They indicated that no decision would be announced until the chancellor had returned from Washington – where he was at a meeting of the International Monetary Fund – on Friday. However, there was speculation in Whitehall that the scale of the U-turn could make it impossible for Kwarteng to continue in post.
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https://www.theguardian.com/politics...-budget-u-turn