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Daily Mirror
Daily Mirror
Business
Levi Winchester

Income Tax: How much you pay explained as workers to miss out on £374 saving

Jeremy Hunt Income Tax Kwasi Kwarteng

The new Chancellor Jeremy Hunt has confirmed he will scrap plans to cut 1p from the basic rate of Income Tax.

The ex-Health Secretary this morning announced another U-turn on the disastrous Mini-Budget, in a bid to plug a giant hole in the public finances and restore market confidence.

The 1p cut to Income Tax was first announced by Rishi Sunak in March this year, with a view of it being put in place in 2024.

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