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UK PM Hopefuls Tout Billions in Tax Cuts: Who’s Promising What?

  • All of 11 people vying to become prime minister promise cuts
  • Rishi Sunak warns against ‘fairy tales’ that would boost debt
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WATCH: The race to become Britain’s next prime minister is set to narrow. Lizzy Burden reports.Source: Bloomberg
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Candidates to succeed Boris Johnson as UK prime minister are lining up billions of pounds of tax cuts to lure support from Conservative Party members who will select the winner in the coming weeks.

After Johnson lifted the overall tax burden to its highest level since the 1940s to fix the public finances after massive pandemic spending, the contenders are all signaling a return to traditional Tory principles of a smaller state and lower taxes.