Britain on Wednesday unveiled a six-month plan starting in October to pay about half of energy bills for businesses, as Prime Minister Liz Truss targets the soaring cost of living. The scheme comes after Truss launched plans for a two-year household energy price freeze which also starts next month. And Truss is committed to scrapping planned tax hikes on both company profits and salaries that predecessor Boris Johnson had signed off. It has never worked," Biden tweeted ahead of their first meeting, echoing arguments that tax cuts disproportionately benefit the wealthy. While official data Wednesday showed British public borrowing improved in August, it is expected to surge as the government funds the planned tax cuts.

Source: News 24 September 22, 2022 05:03 UTC