Prime Minister Liz Truss and Chancellor Kwasi Kwarteng are set to deliver a 'mini budget' on Friday (September 22) to detail the government's plans to tackle the soaring cost of living.
Ms Truss has previously pledged to hold an "emergency budget" within weeks of becoming leader of the Conservative Party, however, plans were forced to wait in light of Queen Elizabeth II's death. Friday's 'mini budget' will not hold the same weight and significance as a full Budget - meaning it will likely emit any changes to duties on cigarettes, alcohol, and fuel.
It is believed that the announcement will focus on tax-cutting, boosting investment and driving growth. Kwarteng is expected to use the “fiscal event” to set out details of how the government will fund the energy price freeze announced earlier this month by Truss, while confirming plans to scrap the planned increase in corporation tax and reverse the hike in national insurance.
