Liz Truss’s Growth Commission to call for tax overhaul in challenge to Jeremy Hunt
- On July 12, 2023
- By GrowthInvest Marketing
The former Prime Minister has commissioned a group of economists to produce alternatives to the forecasting methods used by the Government’s official budget watchdog.
The ex-prime minister’s new Growth Commission will have its formal launch on Wednesday, with economists proposing an alternative forecasting method for the effect of tax and spending changes on the public finances.
But the Chancellor has privately concluded that with inflation more stubborn than previously expected, it will not be possible to cut taxes at the upcoming Autumn Statement. A Treasury source said: “We are slowly running out of time.”
The Growth Commission, which consists of a number of leading economists from around the world, is expected to argue that the economic modelling used by the Government should be more “dynamic”, meaning that it takes account of the effect that changing the tax rate or spending more on public services can have on economic growth over time.
GET IN TOUCH!
CALL US020 7071 3945
FOLLOW US ON
Throughout our site you will find links to external websites. Although we make every effort to ensure these links are accurate, up to date and relevant, we cannot take responsibility for pages maintained by external providers.