February 4, 2023

Truss could slash personal taxes in ‘investment zones’ under economic plans

Liz Truss is considering plans to slash personal taxes in addition to business levies in new “investment zones” as she seeks to set the wheels of her economic strategy in motion. The proposed “investment zones”, dubbed “full fat freeports”, were a staple of Ms Truss’s campaign for the Tory leadership. Under her plan, Ms Truss said these areas would benefit from a low-tax burden, reduced planning restrictions and regulations tailored on a case-by-case basis. Ministers are also said to have discussed whether environmental protections could be watered down in these areas to clear the way for new developments.  Ms Truss seeks to put her stamp on No 10, it has also been suggested the PM could lift the ban on new grammar schools within months.

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