The new Chancellor Jeremy Hunt has today ditched the majority of measures announced in the disastrous Mini-Budget in an attempt to bring financial stability to rattled markets.
Some of the measures thrown out include a 1p cut to Income Tax, which will now be delayed “indefinitely” instead of coming into place next year, while corporation tax will now rise from 19% to 25% as planned.
Mr Hunt will also do away with plans to scrap controversial IR35 tax reforms, in a blow for the self-employed, and alcohol prices could now rise next year after he confirmed a duty freeze won’t go ahead.
