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Daily Record
Daily Record
Politics
Chris McCall

Tory tax cuts leave UK economy in a 'very dangerous place', warns John Swinney

Tory tax cuts for the richest have left the UK's public finances in "a very dangerous place", John Swinney has warned.

The SNP finance secretary hit out after the pound collapsed in value over the weekend after new Chancellor Kwasi Kwarteng slashed income tax for high-earners in England and Wales and reversed a rise in National Insurance contributions.

The UK Government now faces much higher costs to borrow the billions of pounds it will cost to fund its policies in the coming monhs.

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