British government denies Truss tax cuts reversals, but chancellor says “lets see” – By Doug Cunningham (UPI) / Oct 13, 2022
Oct. 13 (UPI) — The British government is denying media reports that it is in talks on a policy U-turn on cutting corporate tax rates in Chancellor Kwasi Kwarteng’s mini-budget.
As economic fallout continues from Prime Minister Liz Truss’ huge tax cut, Kawarteng said the position hasn’t changed, but said, “let’s see” when asked about a potential reversal.
Media reports Thursday said the government is in talks to scrap some of Truss’ fiscal plan – including corporate tax and dividend tax cuts – in the chancellor’s mini-budget.
According to BBC News, Chancellor Kwarteng said, “Our position hasn’t changed.” But under questioning he also said, “let’s see” when asked about the potential U-turn on tax cuts, according to The Guardian.
