UK Prime Minister Truss raises corporate tax… Withdrawal of freeze plan
Prime Minister Truss reverses once more following withdrawing tax cuts for high-income earners
UK government unveils tax cuts… create confusion
UK prime minister fires finance minister over confusion over tax cuts
[앵커]
British Prime Minister Liz Truss has also cut corporate tax cuts following tax cuts for high-income earners.
At the same time, he dismissed the finance minister 38 days following he was appointed, accusing him of being responsible for the confusion in the tax cut policy, and admitted to the policy failure.
Correspondent Lee Jong-soo.
[기자]
Prime Minister Truss has held an emergency press conference and said he has decided to uphold the corporate tax hike.
[리즈 트러스 / 영국 총리 : 재정 규율을 시장에 확신시키기 위해 행동해야 합니다. 이에 따라 전 정부 계획대로 법인세를 인상하기로 결단했습니다.]
Prime Minister Truss originally planned to abolish and freeze the plan to raise the corporate tax rate from the current 19% to 25%.
Prime Minister Truss has also withdrawn plans to cut the top income tax rate for high-income earners, which had been criticized for tax cuts for the wealthy.
With this, he gave up his belief that he would revitalize the UK economy through tax cuts.
On the 23rd of last month, the British government only announced a tax cut without specific measures to meet the declining tax revenue, causing havoc in the financial market.
UK Treasury prices plummeted on anticipation of a surge in government bond issuance to finance, and the pound plunged to an all-time low.
Prime Minister Truss was sacked 38 days following he appointed Treasury Secretary Quozi Kwateng to blame for the failure of the tax cut policy.
[리즈 트러스 / 영국 총리 : 오늘 이른 아침 전임 재무장관을 만났습니다. 그가 잃어 믿을 수 없을 만큼 슬펐습니다.]
Prime Minister Truss has appointed former Foreign Secretary Jeremy Hunt as the new Treasury Secretary.
New Treasury Secretary Hunt backed Truss’ rival, former Treasury Secretary Rishi Sunak, in the last Conservative party leadership election.
As the financial market fluctuated following the recent tax cut announcement, he took the lead in criticizing Prime Minister Truss.
This is Lee Jong-soo from YTN.
YTN Jongsoo Lee (jslee@ytn.co.kr)
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