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British Prime Minister Liz Truss on Friday announced another U-turn in her government's tax-cut plan, in an effort to reassure financial markets.
She has confirmed that corporation tax will rise to 25 percent from 19 percent in a major policy U-turn, adding that this will raise 18 billion pounds in taxes for the country.
"It is clear that parts of our mini-budget went further and faster than markets were expecting, so the way we are delivering our mission now has to change," she said at a press conference.
It is the second reversal of a "mini-budget" policy after the government decided not to scrap the 45 percent highest income tax threshold.
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Copyright © 2023 CGTN. 京ICP备16065310号
Disinformation report hotline: 010-85061466