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The Latest Breaking News from Tax Cuts

Kwasi Kwarteng admits markets meltdown after mini-Budget ‘really ruined my sleep’

Kwasi Kwarteng accepted that the bombshell blueprint for £45bn in tax cuts funded by borrowing had been done 'at very high speed' but he was convinced it was the right plan

Daily Mirror

UK's Truss sticks by economic plan as her party worries

British Prime Minister Liz Truss has acknowledged she could have done a better job “laying the ground” for her package of unfunded tax cuts

The Independent UK

Michael Gove hints he may vote against Truss’s ‘profoundly concerning’ tax plans

The influential figure in the Tory party said using borrowing to pay for tax cuts is ‘not Conservative’.

Evening Standard

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Tory MPs told they will lose whip if they vote against Budget – as Gove refuses to say he’ll back it

Michael Gove ‘profoundly’ worried by Truss plan – as Tory chair threatens rebels with suspension

The Independent UK

Michael Gove savages Liz Truss moments after BBC interview as he hints he won't vote for tax cuts

Liz Truss admitted on Sunday with Laura Kuenssberg that she could have done more to prepare the ground for Kwasi Kwarteng's financial statement.

Daily Record

Michael Gove could vote against Truss’s ‘profoundly concerning’ tax plans

The influential figure in the Tory party said using borrowing to pay for tax cuts is ‘not Conservative’.

The Independent UK

Michael Gove attacks Liz Truss's tax cuts for richest Brits as 'display of wrong values'

The former cabinet minister says there is an 'inadequate realisation' at the top of Liz Truss's government over the 'scale of the change required' in mini-Budget plans

Daily Mirror

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Michael Gove says Liz Truss’s tax cut plans ‘not Conservative’

Influential former minister hints he will not vote for mini-budget measures in blow to PM

The Guardian - UK

Liz Truss admits she could have 'laid the ground' better on tax cuts

She confirmed the decision to scrap the top rate of income tax for the nation’s highest earners was made by Kwasi Kwarteng rather than being agreed by the wider Cabinet.

Nottingham Post

The Observer view on why Tory MPs must stop Liz Truss’s ‘reverse Robin Hood’ policies

Cutting services to fund tax cuts for the very wealthy is not only cruel amid a cost of living crisis, it’s also unmandated

The Guardian - UK

£11bn budget package in Ireland could benefit indy cause, say SNP

AN UNPRECEDENTED package of expanded benefits and tax cuts set out by the Irish government to tackle the cost-of-living crisis puts “Westminster…

The National (Scotland)

Kwasi Kwarteng faces calls for inquiry following champagne do with financiers

The Sunday Times reported that he joined a gathering at the home of a City financier on September 23 where he was said to have been 'egged on' to commit to his plan for £45 billion of unfunded tax cuts

Wales Online

French government ‘worried about Britain’, Macron’s finance minister says

Bruno Le Maire said “dramatic” economic announcements “do not work”

Evening Standard

UK train strikes and energy hikes add to a week of turmoil

Trains in Britain have all but ground to a halt coordinated strikes by rail workers added to a week of turmoil caused by soaring energy prices and unfunded tax cuts that roiled financial markets

The Independent UK

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Daily Record

Scottish Government demand urgent meeting with Chancellor over 'damaging' tax proposals

Deputy First Minister John Swinney has written to Kwasi Kwarteng with the Welsh and Northern Ireland Finance Ministers as they mount pressure.

The National (Scotland)

Scottish Tory MSP breaks ranks to attack 'indefensible' UK Government tax cuts

A SCOTTISH Tory MSP has contradicted his party leadership and attacked Liz Truss’s “indefensible” tax cuts for the highest earners.

Evening Standard

Devolved nations demand meeting amid fears of new era of austerity

The ministers warned the tax cuts were a “huge gamble” for the economy

The National (Scotland)

Liz Truss's Tories plot return to austerity with 'no mandate whatsoever'

LIZ Truss has been told she has “no mandate whatsoever” to impose a new wave of austerity in order to fund her sweeping tax cuts for the rich.

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Wales Online

Truss concedes that £45bn mini-budget tax cuts caused ‘disruption'

'I recognise there has been disruption but it was really, really important we were able to get help to families as soon as possible'

The Independent UK

Truss admits £45bn mini-budget tax cuts did cause ‘disruption’

The Prime Minister insisted Chancellor Kwasi Kwarteng was right to act to get the economy moving.

The National (Scotland)

'Anyone paying attention' knew Liz Truss planned tax cuts, Alister Jack says

ONE of Liz Truss’s ministers has said “anyone paying attention” to the Tory leadership election would know she had planned to cut taxes.

The National (Scotland)

Douglas Ross squirms amid grilling over Tory tax cuts crashing economy

Douglas Ross faced tough questions over the fall-out from the Chancellor's mini-budget

Daily Record

SNP demands Kwasi Kwarteng resigns as Chancellor following reports benefits will be frozen

Ian Blackford claimed that Tory economic policies would leave "millions of families across the UK in deep distress".

The Independent UK

How Kwasi Kwarteng’s budget damaged the economy and what will happen now

Policy Correspondent Jon Stone unpacks how unfunded tax cuts pulled the rug out from under the UK economy

Daily Record

Scots Tory secretary claims Liz Truss's tax cuts are 'small' as he takes swipe at the BBC

Since the Chancellor's mini budget on Friday the economy has tanked due to the unfunded tax cuts which run into the tens of billions.

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