Liz’s dire press conference confirmed what we all knew: the government’s u-turning on one of her key leadership pledges of scrapping Rishi’s corporation tax rise. Her justification is that this will “raise £18 billion per year”. This is in stark contrast to her first PMQs, when she correctly observed that revenues rose the last time we cut corporation tax, and implied that raising it will raise no extra money whatsoever. Guido’s not sure how the left can carry on claiming the IEA is pulling the government’s strings…