Cannot have more of same! Sunak and Truss supporters lock horns in tense tax plan clash

Vicky Ford says 'We cannot have more of exactly the same'

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

Rishi Sunak and Liz Truss have been trading blows over economic policy as the race for Number 10 threatens to split the Conservative Party. Tory MP Vicky Ford was cheerleading for the Foreign Secretary on the BBC when Ms Coutinho hit out arguing that Ms Truss’s plan for the economy was simply parroting the former Chancellor’s policies. 

Ms Ford “Another key supporter of Liz is of course Simon Clarke the chief secretary to the Treasury now, well he has been looking at the free port which has been so successful in his part of the country…”

“A Rishi Sunak policy!,” interrupted Ms Coutinho. 

Ms Ford continued: “But what Liz wants to do is unlock that type of success by making investment zones around the country so more parts of the country can benefit like that.

“Those are the sorts of reforms we cannot have more of exactly the same which is what Rishi is saying with his taxation policy, it is not working, it is hitting people’s pockets.”

READ MORE: SNP savage Jacob Rees-Mogg over cost of Brexit job

“What I want to have is a Prime Minister who actually delivers on the priorities of the people,” she added.

Ms Truss has pledged tax reforms to prevent people being penalised for taking time off work to care for family members or children.

The Foreign Secretary said if she becomes prime minister she would launch a review to allow households to be treated as single tax entities.

By opting in, individuals would be able to transfer their personal allowance for tax-free earnings within their household.

Sunak and Truss to outline 'surprise issues' in bids says Hayward

It would mean an earner could keep a higher proportion of their income before it is taxed while someone they live with focuses on caring duties.

Ahead of the review, no decisions have been made on what proportion of their personal allowance would be transferable, nor can the campaign team put a cost on the policy yet.

Ms Truss said: “Hardworking families are the bedrock of a stable society, and one of my top priorities as prime minister would be easing the tax burden on families. They don’t just look after themselves but also build communities, charities, and even businesses.

“I want to make sure that our tax system works for them. We will review the taxation of families to ensure people aren’t penalised for taking time out to care for their children or elderly relatives.”

Hated Brexit deal ‘could shatter UK’ [OPINION]
Farage blasts those blaming conflict in Ukraine for inflation [NEWS]
Britons blast Tories and Labour who are ‘as bad as each other’ [OPINION]

The Truss campaign said the approach would reflect models used in Germany and the United States.

Mr Sunak wants continuity of the economic policies he introduced as finance minister, promising to keep his focus on fixing the public finances, despite the risk of a recession.

The former hedge fund partner, who helped to trigger the leadership race when he quit the Treasury this month, has dismissed as “fairy tales” the promises of tax cuts made by other would-be successors to Boris Johnson.

“This certainly represents a genuine choice for those who will elect the next prime minister,” the Institute for Fiscal Studies, a non-partisan think-tank, said.

Source: Read Full Article