Wales' First Minister has heavily criticised the mini-Budget unveiled on Friday, branding it "authentically shocking" and describing it as a "giant experiment" that will leave families worse off, long into the future. Mark Drakeford was speaking from the Labour Party conference that begins in Liverpool on Sunday.
His comments came two days after Chancellor Kwasi Kwarteng's mini-budget of sweeping tax cuts, that Labour has said would "reward the already wealthy" and not boost economic growth. Labour leader Sir Keir Starmer, who believes his party now had a belief it would win the next general election, has hit out at the Government's "wrongheaded" economic policies as he pledged to reverse the income tax cut for people earning more than £150,000.
But he said the Tory policy was for the "rich to get richer" while offering little to ordinary workers but said Labour would reinstate the 45p additional rate of income tax for top earners which Mr Kwarteng abolished from April next year. Sir Keir did, however, say he backed Mr Kwarteng's promise to cut the basic rate of income tax from 20p to 19p.
