Connect with us

Hi, what are you looking for?

Editor’s Pick

Liz Truss sacks Kwasi Kwarteng in bid to save her own position

Liz Truss has sacked her chancellor Kwasi Kwarteng and will announce plans to raise corporation tax as she abandons key parts of her mini-budget in a bid to reassure the markets.

A public statement by the prime minister is expected a 2pm today.

The government has been left with little choice but to abandon its plans after the markets priced in a reversal of its position, with sterling responding positively to a series of leaks.

Kwarteng flew back early from Washington overnight. The government is expected to announce plans to increase corporation tax later this afternoon.

One government source said that corporation tax was likely to rise but said it could still be less than the 25 per cent that was planned by the previous government. Other measures in the mini-budget could soon be reversed.

The government is acting to restore market confidence after Kwarteng used his mini-budget to announce £45 billion worth of unfunded tax cuts.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> The exodus of workers from the jobs market over the pandemic has weakened prospects for Britain’s economic growth, the governor of...

News

Elon Musk talks about his company’s Starlink project at the Mobile World Congress, Barcelona, Spain, June 30, 2021. — BRISA PALOMAR / PACIFIC PRESS/SIPA...

News

PHILSTAR FILE PHOTO The National Economic and Development Authority (NEDA) has approved seven “high-impact” projects, ranging from agriculture to transportation, the agency’s top official...

News

Television (TV) advertising is shifting toward addressable TV, a service that allows advertisers to show different ads to different audiences watching the same program,...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Wayne Janse Van Rensburg, Chief Executive of education company Learndirect talks to Business Matters about the inspiration behind their business, which...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Rokt, the global leader in ecommerce technology, is today announcing a new partnership with Oracle Red Bull Racing, the leading Formula...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.