Financial key terms have been dominating the news cycle recently, but what do these terms actually mean and how can they affect you?
Chancellor Kwasi Kwarteng's mini budget announcement was met with wide-spread criticism after the pound sunk to a record low of 1.03 against the US dollar on Monday (26 September). The Prime Minister and Chancellor Kwasi Kwarteng held crunch talks with experts from the Office for Budget Responsibility (OBR), the body that provides economic forecasts and independent analysis of the public finances.
The chancellor pledged to abolish the 45p rate of tax from his mini-budget proposal, which is paid by people who earn more than £150,000 a year.
