The new U.K. government announced a sweeping program of tax cuts and investment incentives Friday, as Prime Minister Liz Truss seeks to boost the country’s faltering economic growth. Speaking to the House of Commons, Finance Minister Kwasi Kwarteng said the government wanted a “new approach for a new era focused on growth” and was targeting a medium-term 2.5% trend rate in economic growth. “We believe high taxes reduce incentives to work, deter investment and hinder enterprise,” Kwarteng said. The measures include: Cancellation of a planned rise in corporation tax to 25%, keeping it at 19%, the lowest rate in the ... (full story)