Foreign secretary fails to rule out U-turn on corporation tax
Liz Truss is considering a U-turn on her plan to cut corporation tax amid a growing rebellion on the Tory back benches, it is reported.
It comes after The Independent revealed that No 10 officials were looking again at the chancellor’s “mini-Budget” following turmoil in the markets.
According to reports, the prime minister is considering raising the levy but that it won't go back to "all the way to 25 per cent".
It comes amid another day of confusion at Westminster.
Less than an hour before the report was published the PM's official spokesperson committed to the time frame of tax cuts set out in Kwasi Kwarteng's Budget.
Earlier James Cleverly, the foreign secretary also said there would be no going back on the measures outlined in the government’s plan.
