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The former Prime Minister will defend decisions made during her brief spell in Number 10, calling it unfair to say she had pursued unfunded tax cuts.<\/p>\n
She will also call for Rishi Sunak\u2019s Conservative Party to embrace free market ideologies, and ditch some green commitments amid cost-of-living pressures on voters.<\/p>\n
Ms Truss was forced out of office last October after the budget of \u00a345 billion of tax cuts outlined by her chancellor Kwasi Kwarteng sparked an economic crisis.<\/p>\n
The speech at the Institute for Government think tank is expected to see Ms Truss reject suggestions that her tax cuts were \u201cunfunded\u201d.<\/p>\n
In her first significant intervention on the economy since leaving office, Ms Truss will say: \u201cSome people have described these as \u2018unfunded tax cuts\u2019. This is not a fair or accurate description.<\/p>\n
\u201cIndependent calculations by the CEBR suggest that cutting the higher rate of income tax and the \u2018tourist tax\u2019 would have increased rather than decreased revenues within five years.<\/p>\n
\u201cSo quite the opposite of being unfunded, these tax cuts could have increased funding for our public services.\u201d<\/p>\n
READ MORE: <\/strong> Rishi Sunak\u2019s popularity falls below Boris Johnson’s in latest dire poll<\/strong><\/p>\n She will claim Mr Sunak\u2019s Government has spent \u00a335 billion more than she would have as prime minister, arguing that if the policies included in her growth plan had been followed, growth would have eventually been higher.<\/p>\n \u201cInvestment would not have faltered in the North Sea, were it not for the windfall tax,\u201d she will say. \u201cWe would have got moving on fracking and lower energy bills would now be on the horizon.<\/p>\n \u201cA more competitive rate of corporation tax would have persuaded the likes of AstraZeneca not to relocate elsewhere. There would have been more duty-free shoppers and a boom in the number of self-employed.\u201d<\/p>\n She will repeat her attack on the so-called \u201canti-growth coalition\u201d, and argue that her plan was not implemented due to a reaction from \u201cthe political and economic establishment which fed into the markets\u201d.<\/p>\n Don’t miss… <\/strong> We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info<\/p>\n She will say: \u201cI was effectively forced into a policy reversal under the threat of a UK meltdown.\u201d<\/p>\n But she will concede that she and Mr Kwarteng were in a \u201crush\u201d to get \u201cresults\u201d.<\/p>\n \u201cIt is certainly true that I didn\u2019t just try to fatten the pig on market day; I tried to rear the pig and slaughter it as well. I confess to that,\u201d Ms Truss will admit.<\/p>\n In setting out her proposals for growth, she will call on her successor Mr Sunak to \u201cbe bold\u201d to deliver growth.<\/p>\n Chancellor Jeremy Hunt is currently preparing for the Autumn Statement, but tax cuts have repeatedly been ruled out while inflation remains high.<\/p>\n Ms Truss will label that a mistake and call for a swathe of cuts, including bringing corporation tax back down to 19 per cent and reforming marginal tax rates.<\/p>\n She will also suggest binning the tourist tax and abolishing the windfall tax.<\/p>\n \u201cWe need to get a grip on the ballooning welfare and pensions bill,\u201d she will add. \u201cThis means slowing the rate of increases to benefits and tougher work requirements. It also means raising the retirement age further.<\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4964396.jpg?r=1694967717791\")
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Liz Truss reveals details of final meeting with Queen days before her death[ROYAL] <\/strong>
Rishi Sunak shares favourite memory of the Queen on anniversary of her death[POLITICS] <\/strong>
Heartbreaking final pictures of Queen Elizabeth II on this day last year[ROYAL] <\/strong><\/p>\n![](\"https:\/\/cdn.images.express.co.uk\/img\/dynamic\/139\/590x\/secondary\/4964397.jpg?r=1694967717828\")
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