Liz Truss rules out any new taxes if she becomes prime minister

Asked if she could vow not to introduce new taxes if she wins, she nodded and replied confidently: “Yes, no new taxes.”

The question was directed to her by host of the London hustings event, LBC’s Nick Ferrari.  The 12ThThe final hustings took place in Wembley Arena, and was the rivals’ last attempt to win over their party.

It came after a question about whether VAT was too high and whether Truss would try to reduce it during her potential tenure. Truss refused to answer this question, saying that there is no point in doing so as she can’t make “future predictions” on the economy.

At the event, Truss ensured that she would “absolutely” look at energy costs, but also ruled out any new windfall tax on energy firm profits. This was previously demanded by opposition parties in order to pay for support for households to deal with rising energy bills.


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Later asked by Ferrari whether he would do the same, Sunak – who introduced these taxes as chancellor in May – did not say whether he would extend it.

He did, however, say that it was “absolutely the right thing” to introduce a windfall tax when he did, commenting that firms had made billions in profits due to the effect on energy markets of the war in Ukraine.

The former chancellor added: “The challenges we face with this crisis are significant. Many European countries are looking at how we can all optimise our energy usage, that is a sensible thing for us to be doing as a country.”

Truss also disregarded energy rationing contrary to Rishi, who said that it should not be ignored and should remain a possibility.

Officials believe the UK could experience blackouts in January without energy rationing if it is not taken care of. This could be due to cold weather and gas shortages that leave the country without power.

Truss added that she would reverse April’s National Insurance rise and temporarily ditch energy levies to help the public survive the increased cost of living. She did not detail any further help for households but said her chancellor would look to “address the issue of household support” in an emergency Budget, something she would reportedly hold next month.

Despite Truss being the favourite, crowd support seemed to slightly tip towards Sunak during last night’s event. His arrival on the stage was met by huge cheers and a standing ovation which continued throughout the evening.

A Truss supporter at the event told us: “Liz’s supporters don’t need to scream and shout, nor do they need to attend this hustings so close to the ballot deadline as we already know she will win. She doesn’t need our support. Rishi needs all he can get”.

The voting ends on Friday, and the results of the competition will be announced Monday, 5ThSeptember will see the election of a new prime Minister in the UK.