Menu

Search

  |   Politics

Menu

  |   Politics

Search

UK PM Boris Johnson pledges tax breaks, new plan for economic growth

G20 Argentina / Wikimedia Commons

UK Prime Minister Boris Johnson is looking to regain the trust of lawmakers as he faces the possibility of being ousted from office. Johnson is reportedly pledging to propose tax breaks and a new plan for economic growth that will be unveiled next week.

A Conservative Party source revealed that Johnson is pledging to cut taxes and propose a new plan for economic growth should he remain in office. This follows Johnson’s address to members of his party before a confidence vote was made on his leadership.

The source also revealed that Johnson warned lawmakers not to turn against each other in the hopes of avoiding a “Groundhog Day”-like scenario.

“He didn’t promise a specific tax cut, but the chancellor and him will lay out the plan for growth next week and you will get the broad outline of the prime minister’s vision across the board and the broad economic picture,” the source told reporters.

It remains to be seen whether the pledge would be made good as late Monday, Johnson survived the vote of lawmakers by 211 to 148. Despite the margin of votes enough to avoid getting removed from office, Johnson will seek to regain the support of the most senior members of his party along with regaining the trust of the general public.

Following the vote, Johnson’s office issued a statement saying that Johnson intends to lay out his agenda in the coming weeks with senior ministers, including new policies that would cut the cost of childcare and help people afford to buy homes.

“This is a government that delivers on what the people of this country care about the most,” said the statement. “We are on the side of hard-working British people, and we are going to get on with the job.”

The confidence vote by members of Johnson’s own party follows months of controversy surrounding the parties at Downing Street and amidst criticism of Johnson’s handling of inflation and its effect on the country.

The rules of the UK leader’s Conservative Party mean he is safe from such votes for the next 12 months, but the rules may be changed if there is enough political will.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.