Liz Truss tax cuts must be bolder to revive UK economy, Thatcherite thinks tank claims

Ahead of this week’s fiscal statement, the Centre for Policy Studies urged the government to go further in pursuit of growth.

City A.M. reports on CPS research which showed that scrapping the six point increase in corporate tax would generate a 1.2 per cent bump in GDP but further measures, such as scrapping taxes on all investment projects, would grow the economy at rise that rate.

Tom Clougherty, CPS Head of Tax, commented saying “The government now has an opportunity to radically reform the UK corporate tax system. If growth is the goal, it pays to be as bold as possible”.

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Date Added: Wednesday 21st September 2022