Truss, Kwarteng said to consider announcing corporation tax rise today | Forexlive
Kwarteng’s arrival in London is now being watched quite carefully as there might be things set into motion upon the plane landing – which seems to be scheduled for 0944 GMT at Heathrow. An increase in corporation tax (now at 19%) looks to be on the cards and that could come later today after Kwarteng is back.
30-year gilt yields are seen down 13 bps to 4.41% on the day. The pound has also trimmed losses on the news from 1.1270 to 1.1300 against the dollar. Keep your eyes and ears peeled as the volatility doses look set to carry on before the weekend.
Liz Truss and Kwasi Kwarteng weighing up whether to announce corporation tax rise today after chancellor’s early flight back from the US
Despite repeated official denials, two senior Downing Street source confirm it’s being considered but say no decision has been taken
— Steven Swinford (@Steven_Swinford) October 14, 2022