Ms Medicott continued: “The cost of public debt is soaring, and against this backdrop Miss Truss’ pledge to hold an emergency tax-cutting budget once elected looks increasingly problematic, even if it is winning the hearts and minds of Tory MPs.”
Ms Truss has pledged to cut taxes but reversing Mr Sunak’s National Insurance hike, saying: “The tax cuts I’m talking about will be delivered on day one because we have an immediate issue that families are struggling with the cost of fuel, with the cost of food.
“That’s why I will reverse the increase in National Insurance. I’ll also have a temporary moratorium on the green energy levy to cut fuel bills.”
But Ms Medicott is not convinced by Ms Truss’s immediate tax plans, claiming the timing of quick cuts could actually worsen the UK’s cost of living crisis.
Credit: Source link
