Liz Truss manifesto focuses on £34bn of tax cuts as she campaigns to be next PM
JAMES MANNING/PA
What is “Trussonomics”? In the coming weeks, this will be uppermost in the minds of 170,000 members of the Conservative Party as they decide whether to make Liz Truss or Rishi Sunak the next Prime Minister. Although the popular narrative has the foreign secretary and the former chancellor representing polar opposites of economic policy — Truss the radical tax cut, Sunak the cautious inflation fighter — in reality they are not so far apart, at least in fiscal matters.
The centerpiece of Truss’s manifesto is £34bn of immediate tax cuts. She says they could be “paid for within the existing fiscal envelope”, that is, through borrowing or using any margin in the public finances. Sunak has scoffed at promises of unfunded tax cuts