Taxpayers will still pay less National Insurance (NI) from November 6 with a 1.25 percentage point cut being kept in place.
Chancellor Jeremy Hunt last week replaced former Chancellor Kwasi Kwarteng, who was sacked after a disastrous Mini-Budget on September 23.
Tax cuts promised in this Mini-Budget rattled markets so badly that the pound fell to record lows, threatened pension funds and led to mortgages beginning to dry up.
