British Prime Minister Truss has announced that the freeze on the corporate tax hike will be lifted. Immediately after announcing the change of finance minister, he radically changed his policy.
“It is clear that some of the stimulus packages announced last month were more excessive and faster than the market had anticipated,” Abe said at a news conference. “Therefore, we need to change the way we achieve our goals right now,” he said.
The decision will increase the corporate tax rate from the current 19% to 25% next year, as planned by former Prime Minister Johnson and former Finance Minister Sunak.
Prior to the press conference, the prime minister’s office announced on Twitter that former foreign minister Hunt has been named the new finance minister. Finance Minister Kwartengu acknowledged that Prime Minister Truss asked him to step down. Last month Kwarteng sparked market turmoil by announcing a massive tax cut without financial support.
Quarteng posted a letter to Truss on Twitter. “We are making progress towards our government’s commitment to fiscal discipline and now is a critical time,” she said. I’m looking forward to supporting the new finance minister. “
British Prime Minister Truss will hold a press conference on the 14th;
Prime Minister Truss also said in a press conference that new finance minister Jeremy Hunt will release a tax plan later this month and that spending growth will be slower than previous plans.
Original title:Truss Dumps plans to freeze UK corporation tax after firing Ally、 Jeremy Hunt appointed as new UK Chancellor 、Kwarteng says Truss asked him to step down as UK Chancellor、 UK Truss says Chancellor will deliver tax plan at end of month （抜 粋）
