UK’s 10% inflation casts doubt on Truss and Sunak’s tax cut promises

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UK’s 10% inflation casts doubt on Truss and Sunak’s tax cut promises - short news

Soaring cost of living is forcing up government spending on benefits, pensions and debt leaving no spare cash to lower taxes

Britain’s first double-digit inflation in more than four decades has cast doubts on the plausibility of the tax cuts being promised by Liz Truss and Rishi Sunak during their leadership battle, one of the UK’s leading thinktanks has said.

Following news that the government’s preferred measure of the cost of living rose by 10.1% in the year to July,..

Read more on The Guardian

source: The Guardian - 17.08.2022