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Evening Standard
Evening Standard
World
Nicholas Cecil,Simon English and David Bond

Pound hits all-time low in backlash at Kwasi Kwarteng’s tax cuts

Kwasi Kwarteng Tax Cuts Bank of England

The pound nosedived to a record low against the dollar early on Monday in a frenzied backlash against Kwasi Kwarteng’s tax-cutting bonanza.

Markets took fright after the Chancellor signalled at the weekend that he was ready to slash taxes even more than the £45 billion cuts in his mini-budget.

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