Liz Truss says it is fair to prioritise tax cuts that benefit high earners more [View all]

Source: The Guardian

Liz Truss says it is fair to prioritise tax cuts that benefit high earners more

Prospective PM vows to press ahead with plans for low-tax economy despite calls for caution from Tory grandees

Peter Walker Political correspondent, and Rupert Neate
Sun 4 Sep 2022 19.08 BST
First published on Sun 4 Sep 2022 09.02 BST

Liz Truss has said she will press ahead with plans for the UK to be a low-tax economy with less focus on wealth redistribution under her premiership, despite calls for caution from Tory grandees.

Truss, who is expected to be named as the new prime minister on Monday, said it was fair that her planned tax cut would benefit the highest earners 250 times more than the poorest, arguing it was wrong to view all economic policy through the “lens of redistribution”.

As analysts warned that relying on boosting economic growth to reduce income inequalities could increase disparities, Tory grandees sounded the alarm over what they said risked being an overly doctrinaire approach.

If the foreign secretary is confirmed to have beaten the former chancellor Rishi Sunak in the Tory leadership race, she would travel to Balmoral on Tuesday to be formally confirmed by the Queen as Boris Johnson’s successor in Downing Street.

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Read more: https://www.theguardian.com/politics/2022/sep/04/liz-truss-energy-prices-action-plan