Breaking News
Investing Pro 0
NEW! Get Actionable Insights with InvestingPro+ Try 7 Days Free

Factbox-What will Liz Truss do if she becomes UK prime minister?

Economy Aug 03, 2022 09:06AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: British Foreign Secretary and Conservative leadership candidate Liz Truss speaks at the Conservative Party leadership campaign event at Biggin Hill Airport, Westerham, Britain July 30, 2022. REUTERS/Henry Nicholls/Pool

LONDON (Reuters) - Foreign Secretary Liz Truss is leading the race to become Britain's next prime minister, with two opinion polls putting her well ahead of former finance minister Rishi Sunak.

Below are details of the policies has Truss proposed during the leadership contest.

TAX

- Hold an emergency budget and review of government spending

- Reverse a 1.25 percentage point rise in payroll tax known as National Insurance. The rise was introduced by Sunak in April to help pay for the health and social care system.

- Cancel a planned increase in corporation tax. The tax is due to rise from 19% to 25% from 2023 under plans announced by Sunak in March 2021

- Apply a temporary moratorium on environmental and social levies added to consumers' electricity bills

- Not impose any new levies on unhealthy food and ditch plans to restrict multi-buy deals on food and drink high in fat, salt, or sugar

- Review the way families are treated by tax authorities, with a view to easing the tax burden when family members are not working in order to care for children or relatives

ECONOMY AND DOMESTIC

- Review the Bank of England's mandate without compromising its independence

- Create low regulation "investment zones"

- Introduce minimum service levels on critical national infrastructure and raise ballot thresholds to limit strike action

- Reform mortgage assessments to help those currently renting gain access to the housing market

- Scrap home-building targets, incentivise local authorities to build more houses and speed up the planning system

- Review how Britain will reach its 2050 net zero target to see how it can be done in a more "market-friendly" way

- No new Scottish independence referendum.

- A six point education reform package, including measures to cut childcare costs

- Temporarily expand seasonal workers scheme to ensure farmers have access to labour

- Tackle violence against women and girls including criminalising street harassment

INTERNATIONAL

- Increase defence spending to 3% of GDP by 2030

- Make Ukraine's President Volodymr Zelenskiy the first foreign leader she calls as prime minister, and work with G7 allies to provide more lethal and humanitarian aid for Kyiv

- Commit Britain to a lead role in a “new Marshall Plan” for Ukraine

- Update Britain's foreign policy to include new focus on China and Russia

- Seek a trade deal among Commonwealth members to act as a bulwark against China

- Scrap all remaining European Union laws that still apply in Britain by 2023, including Solvency II regulation and seek regulatory divergence from the EU

- Pursue more third country immigration processing partnership schemes, similar to the existing agreement to send some migrants to Rwanda.

Factbox-What will Liz Truss do if she becomes UK prime minister?
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
ge Kret
ge Kret Aug 03, 2022 9:48AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
She will not get the job.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email