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Evening Standard

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Jon Weeks and Rachelle Abbott

The Leader podcast: UK Government’s mini-budget explained

United Kingdom Kwasi Kwarteng

Kwasi Kwarteng announced a raft of tax cuts (Aaron Chown/PA)
(Picture: PA Wire)

The UK’s new Chancellor Kwasi Kwarteng has revealed his first economic measures for the company, announcing a mini budget representing the biggest tax cuts of any budget since 1972.

Some of the measures include knocking 1% off the basic rate of income tax from April next year, increasing the level at which home buyers pay stamp duty from £125,000 to £250,000, axing the national insurance rise, and scrapping the cap on bankers bonuses.

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