Liz Truss to hold press conference as U-turn on corporation tax ‘on the table’

Prime minister to meet Kwasi Kwarteng after early return from US, as pressure builds to scrap planned tax cut

Liz Truss is to hold a press conference on Friday afternoon, as she prepares to U-turn on parts of her mini-budget including her plan to scrap a rise in corporation tax.

The prime minister and her chancellor, Kwasi Kwarteng, are due to meet on Friday after he dashed back overnight from an International Monetary Fund (IMF) meeting in Washington to discuss the economic situation.

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