UK tax cut across the board

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The government of Liz Truss has set a target of economic growth of 2.5% per year

The British Chancellor of the Exchequer, Kwasi Kwarteng, announced on Friday the start of a new era, in which the British economy should grow at an annual rate of 2.5% of the Gross Domestic Product. Its “new approach for a new era” will be based on three pillars: reforms to increase supply, fiscal responsibility and tax reduction.

Measures presented in his “mini-budget” include the tax eliminations planned by the Boris Johnson administration, tax incentives for investment and employment, cuts in home sales rates, an obligation for unions to By consulting with its affiliates, the company offers to avoid strikes and reduce the tax rate to 19% for low income earners.

Source: La Verdad

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