The Liz Truss Economic Plan to Save Britain

The business of governing the United Kingdom resumes this week after the mourning period for Queen Elizabeth II, and new Prime Minister Liz Truss appears set on making a strong start. Press leaks suggest several major policy announcements culminating in a new tax-cut plan on Friday. Her calculation is that the Tories need an economic recovery to get their groove back.

Ms. Truss will reverse a 2.5-percentage-point increase in the payroll tax imposed by predecessor Boris Johnson, and freeze the top corporate rate at 19% rather than raising it to 26% as Mr. Johnson intended. She and new Chancellor Kwasi Kwarteng also will scrap certain green levies on household energy bills.

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