Nicola Sturgeon has warned the rich will be "laughing all the way to the bank" after the UK Government slashed taxes for the wealthy today.
The First Minister branded the mini-budget announced today by Kwasi Kwarteng, the new Chancellor, as "reckless" at a time growing numbers of Scots are struggling to pay bills.
The top rate of tax will be slashed from 45 to 40 per cent while corporation tax will remain at 19 per cent, with a planned hike scrapped. Paul Johnson, from the Institute for Fiscal Studies, called the Chancellor’s announcement the “biggest tax-cutting event since 1972”.
