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UK to Reverse Cut to 45% Tax Rate

  • #Finance
  • #Ukraine
  • #Taxation
  • #Coal
  • #Money
  • #Politics
story
OCT 2022
Image copyright: Reuters
story last updated OCT 2022

The Spin

Left narrative

Liz Truss's mini-budget was a failed proposal from the outset, and her attempt to throw chancellor Kwarteng under the bus shows how ill-prepared she was to push this profoundly concerning policy. Though choosing not to cut taxes on the rich is a good thing, there's no doubt she would have pushed ahead if it weren't for the backlash she received from members of her own Conservative Party.

Metro US

Right narrative

The problem wasn't the mini-budget itself, but the way PM Truss and her team communicated it to the public. The multiple tax breaks - which weren't just for the rich - were an attempt to generate economic growth, and it needed time to play out and see how the market reacted. If Truss had communicated her goals more clearly, she may have received the support she needed and her plan could've worked.

Inews.Co.Uk

Articles on this story

Denial and rebellion spread amongst backlash to disaster mini-budget
CanaryJUL 2022
Truss says she has ‘right plan’ on economy and will not change course
GuardianJUL 2022
Liz Truss defends mini-budget, saying she has to do ‘what I believe is right’ – UK politics live
GuardianJUL 2022
‘Brutal’: media deride Liz Truss’s local radio interviews
GuardianJUL 2022