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The Latest Breaking News from Paul Johnson

Chancellor Kwasi Kwarteng shrugs off ‘little turbulence’ after U-turn over tax cut for the rich

Opposition MPs derided Mr Kwarteng's 'botched budget' which was a 'huge economic body blow to working people that will mean higher prices and soaring mortgages.'

Wales Online

Tory MPs plot to avert benefit squeeze after humiliating U-turns

Kwasi Kwarteng to bring forward fiscal statement to later this month amid disquiet in party over spending cuts hitting poorest

The Guardian - UK

Kwasi Kwarteng shrugs off ‘little turbulence’ after U-turn over tax cut for rich

The Chancellor admitted it had been a ‘tough’ day after scrapping the abolition of the top income tax rate

Evening Standard

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Kwasi Kwarteng accepts growth plan caused 'a little turbulence' as government U-turns over income tax cuts

Embattled Chancellor says 'it has been tough but we need to focus on the job in hand'

Birmingham Post

‘Massive spending cuts will still be needed’ despite Chancellor’s U-turn

Think tank experts said the Government’s mini-budget plans will still leave the UK’s public finances on an unsustainable path.

The Independent UK

Tories have made UK ‘laughing stock’, says donor defecting to Labour

Truss and Kwarteng are ‘zealots’ practising ‘GCSE economics’, says Gareth Quarry

The Independent UK

Truss economic plans remain ‘unsustainable’ despite humiliating U-turn on 45p tax rate

Reverse on giveaway to highest earners is ‘trivial’ in economic terms

The Independent UK

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Don’t make NHS and public services pay the bill for tax cuts, Kwarteng told

‘Act of national vandalism’: Fears of five-year austerity spending freeze to reassure markets

The Independent UK

Michael Cunningham: For Georgia Tech football, winning more requires spending more

Georgia Tech President Ángel Cabrera said he wants his institution to be great at everything, including football. He dismissed athletic director Todd Stansbury and football coach Geoff Collins because they didn’t produce results that came close to meeting that goal.

Tribune News Service

‘Fiscal sustainability’ plus rising borrowing costs could add up to cuts

To make the sums work, some suggest Kwasi Kwarteng may include deep spending reductions in his medium-term fiscal plan

The Guardian - UK

Geoff Collins out as Georgia Tech coach, Todd Stansbury likely out as AD

Four games into his fourth season, coach Geoff Collins’ inability to lift Georgia Tech into a competitive realm has cost him not only what he often referred to as his dream job, but also likely the job of the man who hired him, athletic director Todd Stansbury. After the Yellow…

Tribune News Service

Tory MPs hit out after Treasury minister describes criticism of tax cut as ‘politics of envy’

Mr Kwarteng was accused of betting on trickle-down economics

The Independent UK

Government dismisses criticism of tax cuts as ‘politics of envy’

It comes as Chancellor Kwasi Kwarteng unveiled the biggest programme of tax cuts for 50 years

Manchester Evening News

Government says tax cuts flack is 'politics of envy'

Labour accused PM Liz Truss and Chancellor Kwasi Kwarteng of dabbling in 'casino economics'

Wales Online

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Evening Standard

Chancellor says mini budget ‘is not a gamble’ as pound plunges

Kwarteng defends massive tax cuts and borrowing as spooked markets leave pound at new 37 year low

The National (Scotland)

Devastating graph shows poorest in UK get NOTHING from Tory tax cut plans as rich get richer

How much will the worst-off get from Kwasi Kwarteng mini-budget tax cut plans?

The Guardian - UK

Half of Kwarteng’s cuts to personal tax will go to richest 5%, say experts

Thinktank says someone earning £1m will gain £40,000 as top rate, basic rate and national insurance reduced

The Guardian - UK

‘A budget for the 1%’: government accused of huge tax cut for super-wealthy

Kwasi Kwarteng’s measures benefit the rich at expense of struggling families, say critics

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Bangkok Post

Pound sinks in reaction to huge UK stimulus

LONDON: The British pound plunged to a 37-year low and stocks sank after the government delivered the most sweeping tax cuts since 1972, as economists warned that the ambitious plan was unsustainable at a time when inflation is rampant.

The Independent UK

Kwarteng ‘betting the house’ with tax plans helping only those on above £155k

Institute of Fiscal Studies warned there was no ‘semblance of an effort to make the public finance numbers add up’.

The Independent UK

Pound plummets as Kwasi Kwarteng sets out biggest raft of tax cuts for 50 years

The Chancellor abolished the top rate of income tax for the highest earners.

Nottingham Post

Martin Lewis 'staggered' and 'worried' by Chancellor's mini-budget

Tax cuts are 'central' to the plan

The Independent UK

Kwarteng package has ‘biggest tax cuts since 1972’, says leading economist

‘It is half a century since we have seen tax cuts announced on this scale,’ according to Paul Johnson, director of the IFS .

Evening Standard

Martin Lewis brands the mini-budget ‘staggering’

Lewis said ‘I really hope it works. I really worry what happens if it doesn’t’

Evening Standard

Chancellor Kwasi Kwarteng to deliver biggest tax cuts since Nigel Lawson’s Budget 34 years ago, says IFS

The Institute for Fiscal Studies also warned the Government’s dash for growth may not deliver on anything like the scale hoped for

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