UK tax cuts risk ‘unsustainable’ debt rise – think tank

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Reuters UK

LONDON (Reuters) – Prime Minister Liz Truss’s plans to cut payroll taxes and reverse a planned increase in corporation tax risk putting Britain’s national debt on an unsustainable upward path, the Institute for Fiscal Studies think tank said on Wednesday. Truss promised the tax cuts, worth around 30 billion pounds a year, as part of her successful campaign for the Conservative Party leadership, along with a temporary subsidy for household energy bills that will cost around 100 billion pounds. The IFS – widely treated in Britain as a non-partisan arbiter of government budget plans – said the pe…

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