Newspaper headlines: 'Freedom begins with tax cuts' and 'modern monarchy'

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By BBC News
Staff
PA Media

Several of the papers are leading with Prime Minister Liz Truss's proposals to cut taxes.

"Freedom begins with tax cuts" is the Daily Mail's headline, reporting Ms Truss has "signalled a revolution" with a "bold agenda of tax cuts and regulatory reforms". The paper quotes sources saying the new prime minister wants "to lead Britain into a new era".

The Financial Times says her comments that it's not "unfair" to reduce taxes for wealthy people and profitable companies represent a "radical shift in economic policy".

Ms Truss claims doing so will boost growth, but the Daily Mirror says "shaking an imaginary money tree will pile up debt" that the government could try to pay for by cutting public services.

The Guardian describes the prime minister's policy as "Reaganite" and says it "puts her on a collision course" with the US president. Joe Biden tweeted on Tuesday that he was "sick and tired of trickle-down economics", which he says "has never worked".

"Further sweeping tax cuts are on the way", according to the Daily Telegraph, which says the prime minister could also reduce income tax and VAT.

The government will set out its plans in a mini-Budget on Friday, which the Sun says "could see the biggest tax overhaul since the 1980s".

The Times reports that it will include what it calls "radical plans" to cut stamp duty. According to the paper, the prime minister believes the move "will encourage economic growth by allowing more people to move and enabling first-time buyers to get on the property ladder".

But the i raises fears that further tax cuts "could fuel inflation and prompt future rate rises".

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The Daily Mirror says the King's coronation will be "shorter, smaller and less expensive" than his mother's, as part of plans to modernise the monarchy. Sources have told the paper he is "mindful" of "the struggles felt by modern Britons" and he "has long been an advocate of a streamlined or slimmed-down monarchy". The paper praises the move as "a welcome signal of change".

The Sun says the ceremony is expected to take place in the spring, possibly on the anniversary of Queen Elizabeth's coronation.

The Times reports that the Metropolitan Police is handing out smartphones to all of its officers to "help crack down on misconduct and improve their access to technology". Sources tell the paper the move will allow senior managers to "keep an eye on the rank and file", and the phones "will be monitored for evidence of corrupt behaviour".