Rishi Sunak has again refused to commit to raising benefits and the state pension in line with inflation.
13.10.2022 - 22:40 / manchestereveningnews.co.uk
Kwasi Kwarteng did not commit to nor rule out a U-turn on corporation tax, despite growing pressure to abandon even more parts of the recent mini-budget which caused market turmoil.
The Chancellor previously said he was "totally focused" on delivering his announced tax-cutting plans, aimed at increasing UK economic growth, but in comments to the Telegraph newspaper, he was less definitive on his plans. When asked about the expectation from financial markets that the Government could ditch the plan not to increase corporation tax in order to demonstrate a commitment to balancing the books, he reportedly said: “Let’s see.”
Earlier reports suggested talks were under way between No 10 and the Treasury on abandoning elements of the £43 billion tax-cutting plan, including the commitment to axe the planned increase in corporation tax. Downing Street said “work is ongoing between the Chancellor and the Prime Minister, as you’d expect, ahead of the medium-term fiscal plan” but a spokeswoman refused to be drawn on the nature of the discussions or the possible scrapping of the corporation tax commitment.
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Mr Kwarteng, who was in Washington for the International Monetary Fund’s annual meeting, was repeatedly asked by broadcasters about the prospect of a U-turn and did not explicitly rule it out. He insisted “our position hasn’t changed”, adding: “I will come up with the medium-term fiscal plan on October 31, as I said earlier in the week, and there will be more detail then.”
Asked if a corporation tax U-turn was on the cards, he said: “What I’m totally focused on is delivering on the mini-budget.”
Rishi Sunak has again refused to commit to raising benefits and the state pension in line with inflation.
Kanye West is sharing his thoughts about recent co-parenting issues he seems to have faced. The rapper, who recently revealed his admiration for Bad Bunny, explained during a recent interview that his former mother-in-law, Kris Jenner, is trying to turn his daughter Chicago “into a problem.”This is not the first time the singer and his ex-wife Kim Kardashian face co-parenting issues, as Khloé Kardashian recently defended her sister Kim against Kanye’s allegations.This time Kanye admitted that he is worried about his 4-year-old daughter and even took a moment to talk about their new reality show ‘The Kardashians,’ streaming on Hulu.“Chicago is either gonna be a blessing or she gonna be a problem,” Kanye said, adding that he is concerned “as a father.” He continued, “I feel like Hulu, and I feel like Kris are trying to turn her into a problem.”Kanye previously said that he did not want Kris to advise his kids on future career decisions, in reference to Kim and Kylie Jenner’s cover of Playboy magazine.“Don’t let Kris make you do playboy like she made [Kylie] and Kim do,” he said.
Jeremy Hunt has announced that help with energy bills for households will only last until April next year. The newly-appointed Chancellor confirmed the decision during an economic statement on Monday (October 17).
U.K. Prime Minister Liz Truss' push to cut taxes for her country's highest earners was a "mistake," President Biden stated Saturday. Truss was forced to scrap large portions of her tax plan last week amid market turmoil and disintegrating public confidence.
Good evening and welcome to Friday's Daily Record headline briefing. The rundown keeps you up to date with the latest news from Scotland and beyond.
As Prime Minister Liz Truss prepares to hold crisis talks over her controversial mini-budget, the future of the current government has become more uncertain.
Kwasi Kwarteng has paid the price for the chaos unleashed by his mini-budget as he was reportedly sacked by Liz Truss.
Prime Minister Liz Truss is to hold a press conference later on Friday, Downing Street has said.
Kwasi Kwarteng has cut his trip to the US short to fly home for 'crunch talks' with Liz Truss amid the expectation of another major mini-budget U-turn.
New homes should be zero carbon, Labour's shadow chancellor has said on a visit to Manchester to see the UK's 'first' new carbon neutral social housing. Rachel Reeves said Manchester's efforts to make its housing more environmentally-friendly and bring down energy bills is 'inspiring'.
The Department for Work and Pensions (DWP) will announce the State Pension and benefits uprating next month following a scheduled annual review which takes place after the release of the September Consumer Price Index (CPI) inflation figures in October.
A warning from Liz Truss has come back to haunt her after footage showing her saying a tax cuts bonanza would lead to "boom and bust" was unearthed.
Dua Lipa has expressed support for the women of Iran following protests in the nation. The Levitating singer took to Instagram on Saturday to bring attention to the demonstrations, which have been staged to highlight the death of Mahsa Amini. Last month, the 22-year-old passed away in a hospital in Tehran under suspicious circumstances.
sent a letter suggesting they close the deal at the agreed-upon price of $54.20 per share. Twitter ostensibly accepted those terms – but for reasons that aren’t yet clear is dragging its feet on vacating the lawsuit to enforce them.“Astonishingly, they have insisted on proceeding with this litigation, recklessly putting the deal at risk and gambling with their stockholders’ interests,” according to Musk’s filing.Filed in a chancery court in Delaware, the suit seeks to enforce the contract sale that Musk tried to back out of over his concerns about the number of spam accounts among Twitter’s nearly 400 million users.To recap: When Musk first expressed interest in buying Twitter, leadership flew into a panic and introduced a poison pill provision to stop him.
E! News, the comedian shared that Taylor was the first person to hear and react to his newest material, which was just released in his special “Above It All” Wednesday.“She saw everything that I was working on for the show,” Cook revealed. “And she was like, ‘Keep that in.
Prime Minister Liz Truss has defended her Government’s disastrous mini budget that nearly tanked the UK economy.
In an interview with CNBC, NBCUniversal CEO Jeff Shell said Peacock has now reached 15 million paying subscribers and he also confirmed reports that the company is considering a possible give-back of the 10 p.m. hour of programming to affiliates.
Filmmaker Paul Schrader revealed some of the details of his next project at the New York Film Festival during the Q&A for his beautiful and more optimistic new film, “The Master Gardener.” During the discussion with NYFF’s Dennis Lim and the film’s stars Joel Edgerton and Sigourney Weaver, Schrader said his next film would be about a “trauma nurse working in Puerto Rico.” But as he detailed, in his conversation about “The Master Gardener” and the so-called God’s Lonely Man trilogy that includes “First Reformed” and “The Card Counter,” this vocation, trauma nurse would just be the “occupational metaphor” used to hide what the film is really about.
Nicola Sturgeon has accused the Conservatives of "utter ineptitude" after the UK Government announced it would no longer cut the top rate of income tax for millionaires.
UK newspaper The Mirror has apologised for its “terrible error” after mistakenly including a picture of the wrong person in a story about the new Chancellor of the Exchequer Kwasi Kwarteng.