Another round of tax cuts for the rich?

Liz Truss is back! And if the media coverage from the last few days is any guide, she’s keen for the Conservatives to get back to cutting taxes for the rich…. Again.

One line in particular in her essay for The Sunday Telegraph caught my eye. In the piece she claimed that her programme of tax cuts for the wealthy was popular. 

It’s hard to believe it was only a few months ago that her government collapsed in the wake of a disastrous mini-budget that saw the 45p rate of tax for higher earners abolished.

Yet it looks like Truss and her allies are gearing up again to make tax a big issue ahead of the Budget on 15 March.

Rest assured we will continue to call for reformed taxes on wealth, not a repeat of Truss’s tax cuts for the super rich.

Biden agrees with us

We are not the only ones calling for higher taxes on wealth. Over the pond the US President, Joe Biden, used his annual State of the Nation address to call out growing inequality.

In his speech he talked about making the “wealthiest and the biggest corporations finally begin to pay their fair share.”  

And where the US goes, the UK often follows. We showed this in 2021 when we aligned with the Biden-led call for countries to adopt a global minimum corporation tax for big companies.

The UK really didn’t want to follow suit, but we campaigned and won the argument at the G7.

Who knows, perhaps we will hear UK politicians copying the rhetoric of Joe Biden here soon.