Attention has focused on whether Truss will cancel a freeze in corporation tax next year, and instead raise it as previously planned by her predecessor, Boris Johnson. There’s been a growing clamour for the embattled premier to reverse course ever since Sept 23, when Chancellor of the Exchequer Kwasi Kwarteng announced the biggest set of unfunded tax cuts in half a century.
Liz Truss is preparing to reverse parts of her economic strategy later on Friday following weeks of market pressure on the UK premier to explain how she’ll pay for a massive package of tax cuts.
The move was disclosed by a person familiar with the matter who asked not to be identified discussing unannounced plans. They didn’t say which measures Truss will roll back. The premier’s office later said she will hold a press conference on Friday, without providing any further details.
