UK government should cut tax burden -senior Treasury minister

Britain should use the opportunity of leaving the European Union to cut taxes such as those on income and buying property, senior Treasury minister Liz Truss will say on Thursday.

Truss, among possible candidates to become finance minister if Boris Johnson becomes prime minister later this month, was expected to tell journalists at a lunch in parliament that Britain should use leaving the EU to make its economy the biggest in Europe.

"We need to use the freedom to create a more flexible, modern, nimble economy," Truss was due to say according to advance extracts of her remarks. "We need to cut the tax burden – like stamp duty and income tax - and be prepared to make the argument that people should keep more of their money."