UK's Liz Truss says govt will U-turn and raise corporation tax

Hours after sacking her finance minister, and stating the "need to act now to reassure the markets", Truss said

AFP

October 14, 2022 / 20:52 IST

UK's new Prime Minister Liz Truss

Embattled British Prime Minister Liz Truss on Friday announced another drastic U-turn to her tax-slashing mini-budget last month which has prompted market turmoil, vowing to raise corporation tax after all.

Hours after sacking her finance minister, and stating the "need to act now to reassure the markets", Truss said: "I have therefore decided to keep the increase in corporation tax that was planned by the previous government".

AFP

first published: Oct 14, 2022 08:52 pm

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