Explainer-in-brief: Liz Truss’ u-turns will make us all dizzy
Boris Johnson was often ridiculed for his frequent u-turns on policies, but his successor has been happy to take up the mantle. After the fierce backlash following the not-so-mini-budget, the government decided to scrap plans to ditch the 45p tax rate at the beginning of October.
The Chancellor then said he was bringing forward to Halloween the publication of the fiscal plan, together with the Office for Budget Responsibility evaluation of it, something that has yet to see the light of day.
Now they’ve delivered another u-turn, capping the revenues of renewable power companies – effectively what’s closest to the windfall tax Liz Truss had so vehemently rejected during her leadership campaign.
Truss is now also considering going ahead with the future corporation tax rise introduced by Rishi Sunak – despite spending all her campaign promising to scrap it. Not much consistency on the table, it seems.