Truss Dumps UK Corporation Tax Freeze Plan After Firing Ally
- Kwarteng replaced by Hunt as chancellor after only five weeks
- U-turn on tax unpicks major plank of Truss’s economic platform
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Liz Truss scrapped her plan to freeze corporation tax next year in another dramatic U-turn, hours after she fired her ally Kwasi Kwarteng and replaced him with Jeremy Hunt as UK Chancellor of the Exchequer.