Liz Truss to make statement amid U-turn speculation

Published

8 minutes ago

Prime Minister Liz Truss will hold a press conference later, amid speculation she is going to announce a U-turn on plans to cut business taxes.

Chancellor Kwasi Kwarteng has flown back early from a US trip for urgent talks with the PM.

Ditching a planned rise in corporation tax rise was central to Ms Truss's Tory leadership pitch.

It comes after the government's mini-budget spooked the markets and sparked a revolt among Tory MPs.

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