Foreign secretary James Cleverly has failed to rule out a change to the government’s tax plans, when he was quizzed about corporation tax on Thursday.
Asked if the government would reverse its announcement last month to keep corporation tax at 19% and not raise it as had been previously planned, he told Sky News the finance minister would soon set out the full fiscal plan and that it was right to support businesses so they can remain competitive.
“The chancellor will come to the despatch box,” he said. “I think it’s absolutely right that we’ve made it clear that we want to invest in businesses.”
Liz Truss’s most senior advisers have told her that she needs to rip up last month’s mini-Budget and raise corporation tax, according to reports.
The Times has reported that officials have warned the prime minister that it is “no longer credible” to continue with her tax plans.
