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The Latest Breaking News from Tax Cuts

Only a U-turn by the government or the Bank of England will calm UK financial markets

The Bank of England has promised to take action to calm the financial market mayhem that has followed the announcement of major tax cuts by the UK government.

The Conversation

What is the IMF and what did it say about the Government’s fiscal plans?

The IMF claims the £45 billion-worth of tax cuts will likely increase inequality in the UK

Evening Standard

UK faces 'economic situation not seen in living memory' says First Minister

Nicola Sturgeon said that the impact of the sweeping tax cuts could lead to an economic crisis worse than the 2008 global financial crash

The National (Scotland)

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'Unmitigated disaster': Serious concern over IMF's warning to Tory Chancellor

The International Monetary Fund (IMF) rebuked the UK Government in the days following Kwasi Kwarteng’s mini-budget

The National (Scotland)

Former Tory MSP says 'Britain needs a Labour government' as he slams Liz Truss over tax slashing mini-budget

Former Conservative MSP Professor Adam Tomkins accused the new Prime Minister and Chancellor Kwasi Kwarteng of "trashing" the Tory party brand and the UK economy.

Daily Record

Warning house prices could fall by 15% as banks hike mortgage rates

Veteran mortgage broker says he has not seen market move in such a way since 2008 financial crisis

The Independent UK

IMF heaps pressure on Kwasi Kwarteng over tax cuts

Kwasi Kwarteng will step up efforts to reassure the City about his economic plans on Wednesday after the International Monetary Fund (IMF) criticised the measures and the Bank of England signalled sharp interest rate rises could be on the way. The Chancellor will meet investment banks following days of turmoil…

Evening Standard

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'What criticism?': Tory MSP claims he never heard of IMF attack on UK tax cuts

THE Scottish Tories have backed the UK Government’s tax cuts despite an extraordinary intervention from the International Monetary Fund and the…

The National (Scotland)

Fears of Labour government caused market turmoil, claims Tory peer Daniel Hannan

Daniel Hannan played down concerns about the £45 billion package of tax cuts announced by Chancellor Kwasi Kwarteng.

Evening Standard

Moody’s warns against Kwarteng’s ‘unfunded’ tax cuts after IMF intervention

Global ratings agency questions ‘credibility of government’s fiscal strategy’ in stinging statement

The Independent UK

Fears of a Labour government caused market turmoil, claims Tory peer

Daniel Hannan played down concerns about the £45 billion package of tax cuts announced by Chancellor Kwasi Kwarteng.

The Independent UK

House prices could fall by 15% as IMF issues stinging criticism of Tory plan

Leading economists have warned that consumers and the housing market are in for a rough ride following the drop in the value of the pound.

Daily Record

Scottish Conservative MSPs accused of 'hypocrisy' for backing Liz Truss tax cuts

Several prominent Scots Tories were public supporters of Rishi Sunak - but have now embraced the tax cutting regime of Liz Truss.

Daily Record

IMF urges UK to "re-evaluate" tax cuts on inflation concerns

The International Monetary Fund has urged the U.K. government to “reevaluate” a package of unfunded tax cuts that it says may fuel inflation and are likely to increase economic inequality

The Independent UK

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The Independent UK

Pound falls as Bank of England intervenes to calm markets

Sterling was trading at $1.073 on Wednesday afternoon, improving from $1.066 at 2pm

The Guardian - UK

Bank of England intervenes in bond market - as it happened

Bank’s emergency move brings relief to bond market, but fails to stabilise UK currency

Evening Standard

London politics LIVE: Treasury minister says ‘we’ll press on with tax cuts’ as Tory backlash grows amid markets turmoil

Tory MP slams ‘inept madness’ in Chancellor’s mini-Budget - but Treasury minister rejects calls for U-turn

ABC News

What's happening with the British pound and what does it mean for Australia's economy?

With the UK government fighting off fears of a recession, the British pound tumbled against the US dollar this week. Here's why stock markets are concerned and what it means for Australia.

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Liverpool Echo

What do you think of Liz Truss's planned tax cuts?

Labour leader Keir Starmer has slammed the proposed cuts

The Independent UK

Pound – live: Calls for Truss to ‘come out of hiding’ to fix ‘economic disaster’

Bank of England launches emergency action after pound falls

Wales Online

International Monetary Fund makes extraordinary intervention as it urges Chancellor to change course

Kwasi Kwarteng has been urged to 're-evaluate the tax measures' outlined in last week's mini-budget

Evening Standard

IMF criticises Government tax plan saying it will ‘likely increase inequality’

There is international pressure on Kwasi Kwarteng to change course after his mini-budget spooked the markets with its package of tax cuts and increased borrowing.

The Guardian - UK

IMF urges UK government to reconsider tax-cutting plans

International Monetary Fund says measures should target households worst affected by energy crisis and inflation

The New Daily

Michael Pascoe: RIP trickle-down economics – even the financial markets have given up

Trickle-down economics: The cry of “you can’t tax your way to prosperity” is joined by “you can’t tax cut your way to prosperity either”.

The National (Scotland)

Douglas Ross demands 'appalling' tax cuts that'd save Tory MSPs thousands on bills

DOUGLAS Ross is facing questions over his demands for Holyrood to replicate Liz Truss's “appalling” tax cuts after estimates revealed it would…

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