The Latest Breaking News from Tax Cuts

UK inflation, already at 40-year highs, could pass 13% in October, according to Bank of England forecasts. While wages have not kept pace with inflation, much of the expected squeeze on households and businesses is down to rising energy costs.

Tax Justice UK calculates at least £35.8bn handed to businesses in tax cuts

The Tory leadership hopeful said the Foreign Secretary's economic plans would fail to help pensioners through the energy price crisis which would be a 'moral failure' for Conservatives.

Former chancellor blasts foreign secretary’s focus on tax cuts as ‘moral failure’

The ongoing Conservative Party leadership hustings haven’t seen much agreement between candidates, but they have resulted in the creation of a new political narrative: “Gordon Brown economics”. Foreign secretary Liz Truss explained away her rejection of cost of living “handouts” for households with the phrase. But even as she indicated…

Fixated on the tax cuts beloved of Tory members, Truss and Sunak have no plan at all to deal with the UK’s looming crises, says Guardian associate editor Martin Kettle

Treasurer Jim Chalmers says the government is keen to hear from as many groups as possible at the upcoming jobs and skills summit, including the opposition.

This Conservative leadership contest is getting weirder. It started out straightforwardly enough. Rishi Sunak was the MPs’ favourite (though at no stage did he command anything approaching majority support) with a pitch based on ‘sound money’ and tax cuts soon but not now.

Germany’s finance minister says the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation

Consumer rights campaigner tells Tory contenders they need to tell public ‘the bare minimum’ of what they will do

Union warns workers being ‘cast adrift’ as Tory leadership contenders haggle over tax cuts