Liz Truss expected to hold mini-budget just days after the Queen’s funeral
LIZ Truss is expected to fly to New York and hold her mini-budget next week, just days after the Queen’s funeral.
The new PM is set to travel to America to join world leaders for the United Nations General Assembly summit in her first major overseas trip in Downing Street.
She will return to the UK later in the week, with officials pencilling in Thursday 22 for her first big fiscal statement.
Another option is for Commons chiefs to push back the conference recess by a day to hold the mini-Budget on Friday 22 September.
Ms Truss has said she wants to use it to reverse the hated National Insurance rise, and is likely to also cancel the planned rise in corporation tax next year.
She may also give more details about the £150billion energy bill bailout, with businesses waiting on tenterhooks for more information about how to access the desperately-needed support.
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But insiders say that there is no need for emergency laws to implement the mammoth package, and energy firms will sign contracts with the Government instead.
MPs are set to break up for their conference recess on the evening of 22 September, and won’t return until mid-October.
There are no plans to push this back after the death of the Queen – but the Lib Dems and Trade Unions Congress have already cancelled their conferences.
The PM’s spokesperson yesterday said last night: “We are still planning to deliver a fiscal event this month. We would not do that in recess.”