Liz Truss outlines tax cuts if she's elected as Tory leader
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Liz Truss took aim at a string of Boris Johnson-era tax hikes as the Conservative leadership hopefully made a pitch to “start putting money back into people’s pockets.” The Foreign Secretary joined leadership rivals Rishi Sunak, Kemi Badenoch, Tom Tugendhat, and Penny Mordaunt for the ConservativeHome digital debate.
Ms Truss told the ConservativeHome hustings: “I think we immediately need to start putting money back into people’s pockets.
“We know that families are struggling to make ends meet at the moment.
“So what I would do is reverse the National Insurance rise.
“I opposed it in Cabinet at the time because I thought it was a mistake.”
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“I think it’s even more of a mistake now when we’re facing such strong economic headwinds,” she continued.
“I would also have a temporary moratorium on the green energy levy to cut £153 from people’s energy bills and I would also not do the corporation tax hikes because I think it’s vitally important that we’re attracting investment into our country.
“But the big problem we face here is that the public sector needs to be growing slower than the private sector.
“We need higher private sector growth and we’ve had anaemic growth for the past two decades.”
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Ms Truss added: “So that is going to take really strong regulatory reform, taking the full benefits of being able to do different from the EU in areas like financial services, environment better environmental regulation, better planning, regulation, better regulation, about building.
“So that we can get the economy going so we can get companies investing in our country, and so we can see people’s wages rise with higher paying jobs because that is ultimately what we are going to have to do to solve our problems in the longer term.
“So I take those immediate steps to help families who are really struggling at the moment, whilst getting on with the long-term supply-side reforms that frankly, we’ve delayed for too long so that we can see Britain become a fast growing highly innovative economy.”
Allies of Ms Truss have denied involvement in a “black ops” campaign against rival Penny Mordaunt as the race to replace Boris Johnson becomes increasingly bitter.
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The Foreign Secretary is bidding to consolidate and increase support from the right of the Conservative Party in the leadership contest in the face of a surge by the trade minister.
Ms Mordaunt claims to be unfazed by rivals’ attacks, suggesting other candidates are trying to stop her from getting into the final two to avoid facing her in the deciding vote of party members.
Criticism of her for being too “woke” on issues such as trans rights, she predicts, is doomed to fail.
Former chancellor Rishi Sunak came out on top of Thursday’s voting, with second place going to Ms Mordaunt, who bore the brunt of attacks from rival camps as she gained the most momentum.
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