© 2020 – 2023 AEA3 WEB | AEAƎ United Kingdom News
AEA3 WEB | AEAƎ United Kingdom News
News

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

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, the Institute for Fiscal Studies said higher inflation would mean extra spending on welfare benefits, state pensions and on debt interest.

Continue reading…

Related posts

‘We were allowed to be slaughtered’: calls by Russian forces intercepted

AEA3

NHS told not to give Covid vaccine to those with history of allergic reactions

AEA3

Cop27: ending war in Ukraine necessary to tackle climate crisis, Zelenskiy says

AEA3

Pin It on Pinterest

Share This