Liz Truss Will Cut Taxes In Certain Parts Of The Country Chosen By The Government

The Prime Minister is reportedly planning to designate the areas “investment zones” – and will claim the approach could boost economic growth. Businesses based in the selected regions will be able to ignore certain environmental regulations and pay lower taxes. And workers living there could pay personal income tax and national insurance at reduced rates, the pro-government Sun On Sunday newspaper reports. Details of the plans are said to be still being worked out, but an announcement could come as soon as Chancellor Kwasi Kwarteng’s emergency budget on Friday. Plans to apply the tax cuts only to certain areas of the country may raise eyebrows because the government has previously come under fire for playing political favourites. A previous policy, the Towns Fund, selected areas to benefit from a £1bn investment – ​​but this was mainly channeled into Tory areas. An investigation by parliament’s spending watchdog, the Public Accounts Committee, concluded last year that the selection process to benefit from the fund was “non-biased” and the decisions were “politically motivated”. Wolverhampton Wanderers’ Nathan Collins fouls Manchester City’s Jack Grealish, leading to a red card. City won the match at Molineux Stadium by three goals to nil. 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It is unclear which areas will benefit from the “investment zone” tax cuts or how they will be chosen. Mr Kwarteng, who was appointed by Ms Truss earlier this month, is set to use Friday’s emergency budget to reverse Rishi Sunak’s increases in corporation tax and national insurance contributions. Other policies are expected to include lifting the cap on bankers’ bonuses, which limits payouts to twice the banker’s…