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Home » News » Brexit: Liz Truss slammed for ‘expert’ opinion on trade deal & she wants to scrap Inheritance tax!

Brexit: Liz Truss slammed for ‘expert’ opinion on trade deal & she wants to scrap Inheritance tax!

"Who are you? Just curious petal," asked one person.

Politics Reporter by Politics Reporter
June 1, 2023
in Business, News, Politics
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So Liz Truss is getting mucked in today. Lettuce picking perhaps? Sadly not, she is being slammed over Brexit trade deal and is part of a squad of Tories demanding Inheritance tax is scrapped.

First to Inheritance Tax…

Members of the Conservative Growth Group – allies (yes really) of failed Prime Minister Liz Truss – are set to publish a paper trying to convince the Treasury to scrap the tax.

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Writing in The Telegraph Mr Zahawi – who Mr Sunak sacked in January after it emerged he settled a multi-million pound tax dispute while Chancellor – said: “Inheritance tax is that other spectre that haunts us alongside death.

“As well as being morally wrong to take someone’s assets on their death, it also creates all sorts of inefficient and damaging distortions in our personal finances, and the wider economy.”

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As expected Jacob Rees-Mogg also wants to see the tax scrapped, saying: “Death duties are an inefficient form of taxation that is unfair and economically damaging.

“Unfair because it is a double tax on already taxed assets. Economically damaging because it leads to the misallocation of capital, as investments are made to avoid a distortive tax rather than to maximise investment return.”

Brexit Liz Truss

📣 NEWS: the UK-Australia & UK-New Zealand trade deals enter into force today.

Both deals are the first negotiated from scratch by the UK as an independent trading nation. They will make buying & selling goods & services cheaper, easier & faster.

More 👉 https://t.co/9hDejkjsnD pic.twitter.com/OWbDSCiB0X

— Department for Business and Trade (@biztradegovuk) May 31, 2023

The deal has been estimated to be worth a growth to the UK economy of 0.08% by 2035 and was openly mocked on New Zealand TV.

Liz Truss tweeted: “These deals mark a new era for Britain as a free trading nation and wouldn’t have been possible while we were in the EU. Our future lies in free trade with key allies in the Pacific, Europe and hopefully in due course the US. This is how we will stand up to authoritarian regimes.”

These deals mark a new era for Britain as a free trading nation and wouldn't have been possible while we were in the EU.
Our future lies in free trade with key allies in the Pacific, Europe and hopefully in due course the US. This is how we will stand up to authoritarian regimes. https://t.co/59C3ylWOG0

— Liz Truss (@trussliz) May 31, 2023

Reactions

1.

Government's own figures estimate that Aus deal at best would increase UK GDP by just 0.08% a year by 2035. 

New Zealand deal, while benefitting NZ will have “limited effect … in the long run” and could actually reduce UK growth by -0.01%.

Some new era huh https://t.co/LWVwM78e2g

— Otto English (@Otto_English) June 1, 2023

2.

These deals do mark a new era for Britain as an idiotic, self-harming trading nation and they wouldn’t have been necessary either if we were still in the EU, where we’d also have had a much better chance of standing up to authoritarians than we do now pissing around on our own.

— sarah murphy (@13sarahmurphy) May 31, 2023

3.

More to the point is that we didn’t need them.

You have proven that your views catastrophically lack good judgment.

Frankly I think you have quite a nerve speaking in public after what you did.

— The Grit (@theGrit_music) May 31, 2023

4.

The lack of any shame, let alone any self awareness! https://t.co/Nz2sAAs8WC

— alexandra hall hall 🇺🇦🌻 (@alexhallhall) May 31, 2023

5.

to think some people say she crashed the economy when this estimated 0.08% addition to GDP will make up the billions lost due to Brexit https://t.co/KPbwEz0hvn

— Toby Earle 🇺🇦 Threads tobyontv (@TobyonTV) May 31, 2023

6.

Who are you? Just curious petal. https://t.co/ohYZ3FBr6R

— COOPS (@jimmycoops2018) June 1, 2023

7.

https://twitter.com/tompeck/status/1664173904070430720

8.

😅 Not even 1% to our GDP over 10 years.

That’s like walking out of a steakhouse with a t-bone on tour table, and celebrating a solitary chicken wing.

Disgraceful, sad and frankly quite pathetic.

Oh and cheers for bumping up everyones mortgages. You’ve a star.

— Farrukh (@implausibleblog) May 31, 2023

9.

Leaving aside the miniscule nature of this trade, which part of this is standing up to authoritarian regimes? https://t.co/Kgap7QYEX1

— Brian Moore (@brianmoore666) May 31, 2023

10.

In all the breathless hype about the UK's Australia and NZ trade deals coming into force, and how they would have been impossible inside of the EU, nobody's alluding to the fact that the EU signed a better trade deal with NZ than ours is, after we'd left. https://t.co/fflqg5R2wA

— Edwin Hayward (@edwinhayward) May 31, 2023

11.

https://twitter.com/arthistorynews/status/1664169150065917952?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1664169150065917952%7Ctwgr%5Ecaaf95d074c8b1022bfb51f137e59bb80a48c405%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.thepoke.co.uk%2F2023%2F06%2F01%2Fresponses-to-liz-trusss-opinion-on-uks-latest-deal%2F

Related: Brexit: Starmer tells Express no return to EU – uncontrolled reactions

Tags: Inheritance taxLiz Truss
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