Friday, April 19, 2024

The tax cuts sparked controversy among candidates succeeding Johnson

Date:

LONDON – Reuters
In Sunday’s second televised debate, the debate between the five Conservative contenders over tax cuts to become Britain’s next prime minister heated up, with frontrunners Rishi Sunak and Liz Terras focusing their battle on the economy.
Former finance minister Rishi Sunak has emerged as the preferred candidate of the Conservative Party’s 358 MPs, exposing divisions within the ruling Conservative Party and making it yet to predict who will be the next leader. Members will hold more ballots this week, eventually narrowing the number of contestants down to two.
Sunak said on Sunday evening that his priority was to tackle inflation and prevent it from worsening before approving tax cuts.
Foreign Secretary Liz Drace said Sunak had raised taxes to the highest level in 70 years and proposed plans to scrap wage and corporate tax increases at a cost of 30 billion pounds ($36 billion) a year.
“Raising taxes now will stifle economic growth,” he said in a debate televised by ITV.
Secretary of State for Commerce Benny Mordant, currently in third place, also hit out at Sunak, saying the public needed urgent action to tackle the rising cost of living.
A JL poll for the Sunday Telegraph found that nearly half of Conservative voters think Sunak would make a better prime minister than Truss and Mordant.
However, Truss enjoys broad support, including among those most loyal to Johnson. Mordant has topped a poll of the party’s 200,000 members, who will choose who will become Conservative leader and prime minister.

Rolf Colon
Rolf Colon
"Creator. Award-winning problem solver. Music evangelist. Incurable introvert."

Share post:

Popular

More like this
Related

Unlocking the Power of Booking Engines in the Hospitality Industry

In an era dominated by technology, the hospitality industry...

Boost Your Sales with Perfect Banner Printing Services in Dubai

In the fast-paced world of business, effective advertising is...

Defend Against DDoS Attacks with Qrator Labs’ Anti-DDoS Solutions

Protecting your online assets from DDoS (Distributed Denial of...

UAE Powering Gaming Boom in the Middle East

The gaming industry in the Middle East is experiencing...