Jeremy Hunt announced today he is reversing "almost all" of the tax cuts announced in Kwasi Kwarteng's mini-budget. The new chancellor, who accepted the job on Friday, also revealed he is scaling back support on energy bills and shelved a 1p cut to income tax indefinitely.
Mr Hunt said the government's flagship energy price guarantee will only be universal until April - not for two years as originally planned, and announced billions of pounds worth of tax and spending changes. It reversed many of the tax measures announced just a few weeks ago, ahead of an emergency statement to the Commons this afternoon.
The Chancellor, who is most known for his stint as health secretary, was first given a senior role in 2005 when he appointed Shadow Minister for Disabled People.
