Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Sheikh Qassem: Our supporters make up more than half of Lebanon's population, and all of these people are united under the banner of protecting Lebanon, its Resistance, its people, and its integrity.
Sheikh Qassem: There will be no phased handing in of our arms. [The Israelis] must first enact the agreement before we start talking about a defensive strategy.
Sheikh Qassem: Be brave in the face of foreign pressures, and we will be by your side in this stance.
Sheikh Qassem: Stripping us of our arms is like stripping us of our very soul, and this will prompt us to show them our might.
Sheikh Qassem: We will not abandon our arms, for they gave us dignity; we will not abandon our arms, for they protect us against our enemy.
Sheikh Qassem: The US efforts we are seeing are aimed at sabotaging Lebanon and constitute a call for sedition.
Sheikh Qassem: If you truly want to establish sovereignty and work for Lebanon’s interests, then stop the aggression.
Sheikh Qassem: The United States, which is meddling in Lebanon, is not trustworthy but rather poses a danger to it.
Sheikh Qassem: The United States is preventing the weapons that protect the homeland.
Sheikh Qassem: The government’s latest decision [on the disarmament of the Resistance] is non-charter-based, and if the government continues down this path, it is not faithful to Lebanon’s sovereignty.

Biden jabs at 'trickle-down economics', Truss reveals UK tax cut plans

  • By Al Mayadeen English
  • Source: Agencies
  • 21 Sep 2022 17:22
4 Min Read

In addition to overturning a one-year moratorium on green energy taxes and promising tax cuts totaling £30 billion ($34 billion), Liz Truss is considering temporarily lowering the VAT by 5%.

  • x
  • Britain's newly appointed Britain's Foreign Secretary Liz Truss leaves from 10 Downing Street on 15 September, 2021. (AFP via Getty/ DANIEL LEAL-OLIVAS).
    Britain's newly appointed Britain's Foreign Secretary Liz Truss on 15 September, 2021. (AFP via Getty/ DANIEL LEAL-OLIVAS).

Prior to their future meeting at the UN General Assembly in New York, US President Joe Biden and UK Prime Minister Liz Truss argued over economic strategy.

"Truss told Sky News on Tuesday that her own tax-cutting plans will initially benefit the rich more than the rest of Britain, arguing that the country’s economic growth would “benefit everybody” at the end of the day."

She said she doesn’t “accept this argument that cutting taxes is somehow unfair,” adding, “I mean, what we know is that people on higher incomes generally pay more tax; so when you reduce taxes, there is often a disproportionate benefit because those people are paying more taxes in the first place.”

The British PM also verified rumors that Kwasi Kwarteng, the country's chancellor, will remove restrictions on bankers' bonuses in the City of London, a move that had previously drawn criticism from lawmakers and labor groups.

“We haven't had enough capital investment and yet we have one of the world's best financial services centers. So what I want to see is that money in the City of London put to good use across our country - and yes, I'm prepared to do what it takes to get that money flown,” Truss said.

Read next: Truss freezes energy bills for 2 years, costs government £150 billion

Following this, Biden appeared to poke fun at the UK PM's comments by criticizing the economic idea that lowering taxes for corporations and the wealthy will result in benefits "trickle down" to lower-paid people.

“I am sick and tired of trickle-down economics. It has never worked. We're building an economy from the bottom up and middle out,” he tweeted later on Tuesday.

Related News

Trump orders national guard expansion in Washington

Musk’s xAI sues Apple, OpenAI over antitrust collusion in AI market

I am sick and tired of trickle-down economics. It has never worked.

We're building an economy from the bottom up and middle out.

— President Biden (@POTUS) September 20, 2022

Truss’ spokesperson, however, pointed out that “any suggestion that it’s in some way a direct criticism of UK policy would be ludicrous.” According to the spokesperson, “No two countries’ economies are structured in the same way – each have unique challenges.”

When they meet on the fringes of the UN General Assembly on Wednesday, Truss and Biden are anticipated to discuss the economy, the energy situation, and the Northern Ireland Protocol (NIP).

Read next: Truss losing to Starmer in tax-cutting policy catastrophe

In response to worries in Washington over Truss' legislative proposal to give UK ministers the authority to renege on the NIP, the White House had indicated that the US President would oppose any unilateral attempt by the British PM to rip up the pact.

Part of the Brexit trade deal, the NIP keeps Northern Ireland (in the UK) aligned with the EU single market for goods, thus dodging a hard border with the Republic of Ireland (which is in the EU).

The compromise was designed to protect a crucial element of the 1998 Good Friday peace agreement, which ended years of violence in Northern Ireland. Unionist MPs have criticized the protocol for putting distance between their community and the rest of the UK and for requiring some new inspections on products traveling between Great Britain and Northern Ireland.

Ahead of the Biden-Truss meeting, the White House also played down the chances of a US-UK post-Brexit free trade deal anytime soon, saying that they “take a long time to negotiate.”

Truss repeated this and stated categorically that the UK and US trade talks will not resume for a number of years. “I don’t have an expectation that those are going to start in the short to medium term,” she added.

Read next: US Federal Reserve to raise interest rates, recession fears heighten

  • United States
  • Liz Truss
  • United Kingdom
  • Joe Biden

Most Read

Tom Artiom Alexandrovich, executive director of the defense division of the Israeli National Cyber Directorate, undated (Social media)

Israeli-born US prosecutor drops Israeli officer child sex crime

  • Politics
  • 19 Aug 2025
Almost instantly after the Helsinki Accords were signed, organisations sprouted to document purported violations, whose findings were fed to overseas embassies for international amplification. (Al Mayadeen English; Illustrated by Zeinab el-Hajj)

How ‘Human Rights’ became a Western weapon

  • Opinion
  • 23 Aug 2025
Israeli soldiers stand on the top of armoured vehicles parked on an area near the Israeli-Gaza border, as seen from southern Israel, Wednesday, Aug. 20, 2025 (AP)

Palestinian fighters target Israeli soldiers, vehicles in Gaza

  • Politics
  • 21 Aug 2025
Launch of a ballistic missile from Yemen toward the occupied Palestinian territories. (YAF military media)

Yemeni Forces announce firing hypersonic missile at Al-Lydd Airport

  • Politics
  • 22 Aug 2025

Coverage

All
The Ummah's Martyrs

Read Next

All
Israeli Prime Minister Benjamin Netanyahu speaks during a press conference at the Prime minister's office in al-Quds, Occupied Palestine, Sunday, Aug. 10, 2025 (AP)
Politics

Netanyahu deliberately derailing truce with Gaza occupation: Hamas

Irish President Michael Higgins arrives to deliver his speech during a 42nd World Food Day celebration at FAO headquarters in Rome, on Oct. 16, 2023. (AP Photo/Alessandra Tarantino)
Politics

Irish president renews call for UN military intervention in Gaza

US Ambassador to Turkey and Special Envoy to Syria Tom Barrack speaks during an interview with The Associated Press at the US Embassy in Aukar, northern suburb of Beirut, Lebanon, Monday, July 21, 2025 (AP)
Politics

US envoy, Netanyahu discuss restraining attacks on Lebanon, withdrawal

Smoke billows following Israeli airstrikes in multiple areas in Sanaa, Yemen, Sunday, Aug. 24, 2025 (AP)
Politics

Ansar Allah vow sustained Gaza support despite Israeli strikes

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS