#AceDailyNews says here’s todays Newspaper Headlines: ‘ Freedom begins with ‘ Tax Cuts ‘ as Truss Plans to ‘ Spend Spend Spend ‘ putting ‘ UK Deeper in Debt ‘ and heading back to the ‘ Dark Ages ‘ with a Democracy Falling into Disrepair & Plutocracy of Wealth & Class being followed Religiously by people following the ‘ Wrong Shepherd ‘ Kindness & Love XX says 🙏🙏’s for Guidance By God Amen
Several front pages lead with Prime Minister Liz Truss’s plans to cut a variety of taxes. The Daily Mail says she “signalled a tax revolution” as part of a “bold agenda” of reform. The paper reports she will “link economic strength at home” to resisting authoritarianism as part of a “landmark speech” at the UN General Assembly in New York on Wednesday.The Times reports the PM is set to announce “radical plans” to cut the stamp duty tax on buying a new home as part of the government’s mini-budget this week. The paper says Ms Truss believes the move, to be set out on Friday, will encourage economic growth by “enabling first-time buyers to get on the property ladder”.Ms Truss has signalled a “profound shift” in economic policy by launching a defence of tax cuts for the wealthy, reports the Financial Times. The paper contrasts the PM’s stance with that of US President Joe Biden, who said on Monday that he was “sick and tired of trickle-down economics”, ahead of a planned meeting between the two leaders.The Guardian also picks up on the stark differences between the two leaders’ views over economic policy. Ms Truss is set to “urge world leaders to join Britain” in introducing wide-ranging tax cuts, with the paper reporting her embrace of a low-tax agenda “put her on a collision course” with Mr Biden at their first bilateral talks on Wednesday.Many people with mortgages are facing a “shock” of rising interest rates over the next four months, according to the i. The paper says the Bank of England are predicated to raise rates by two percentage points to 3.75%, which could cost an average of £200 a month more on tracker mortgages that are tied to the Bank’s base interest rates.The Daily Mirror reports the King is planning a “slimmed down” coronation as part of a drive to “modernise the monarchy”. The paper says he is “mindful” of the cost of the ceremony, given so many are struggling with the cost of living crisis, adding it will be “inclusive and reflect the whole country and commonwealth”.The King has “overwhelming public support” for his plans for a “slimmed down monarchy”, according to a poll published in the Daily Express. The paper reports more than two thirds of the public believe he will make a good monarch, while a similar number of people “back his idea of cutting the number of working royals”.The Metro reports the King has returned to Balmoral to mourn the death of the Queen privately. He has travelled to the Scottish estate where his mother died 12 days ago with his wife Camilla, the Queen Consort, for a week of royal mourning where all official engagements have been cancelled, the paper says.Russia has laid the groundwork to formally annexe around 15% of Ukraine’s territory, in what the Daily Telegraph calls a “major escalation” of the invasion. Separatist leaders of four occupied areas announced that referendums on becoming part of Russia will be held later this week, plans that have been rejected as a “sham” around the world, the paper says.The Daily Star leads with the accusations that ITV presenters Phillip Schofield and Holly Willoughby “jumped the queue” to see the Queen lying in state. Under the headline “Queue do you think you are?”, the paper notes 27,000 people have signed a petition to get the pair sacked.“Queue-jump Holly” is fighting to keep her job fronting ITV’s This Morning programme, according to the Sun. The paper says the petition is “gaining momentum despite an on-air apology” on Tuesday, with sources close to the embattled presenter telling the paper she is “utterly devastated” over the row.
Several of the papers are leading with Prime Minister Liz Truss’s proposals to cut taxes.
“Freedom begins with tax cuts” is the Daily Mail’s headline, reporting Ms Truss has “signalled a revolution” with a “bold agenda of tax cuts and regulatory reforms”. The paper quotes sources saying the new prime minister wants “to lead Britain into a new era”.
The Financial Times says her comments that it’s not “unfair” to reduce taxes for wealthy people and profitable companies represent a “radical shift in economic policy”.
Ms Truss claims doing so will boost growth, but the Daily Mirror says “shaking an imaginary money tree will pile up debt” that the government could try to pay for by cutting public services.
The Guardian describes the prime minister’s policy as “Reaganite” and says it “puts her on a collision course” with the US president. Joe Biden tweeted on Tuesday that he was “sick and tired of trickle-down economics”, which he says “has never worked”.
“Further sweeping tax cuts are on the way”, according to the Daily Telegraph, which says the prime minister could also reduce income tax and VAT.
The government will set out its plans in a mini-Budget on Friday, which the Sun says “could see the biggest tax overhaul since the 1980s”.
The Times reports that it will include what it calls “radical plans” to cut stamp duty. According to the paper, the prime minister believes the move “will encourage economic growth by allowing more people to move and enabling first-time buyers to get on the property ladder”.
But the i raises fears that further tax cuts “could fuel inflation and prompt future rate rises”.
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