The Latest Breaking News from Tax Cuts

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

Millions of households are set to benefit from the tax cuts

The UK economy has been dogged by slow growth for a long time. Combined with even slower growth in productivity, it has meant virtually no increase in living standards for the average family over the past decade.

Divisions of leadership contest return to the fore as some MPs criticise extra borrowing to pay for tax cuts

This is a Budget for the rich - with £1m earners getting £55,000 while £25k earners get £283. We take you through all the ways the Income Tax, National Insurance, Stamp Duty and other tax cuts help the better-off

The Chancellor announced cuts to Income Tax, National Insurance and stamp duty in a series of new measures

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.

Kwasi Kwarteng has unveiled a mini-budget that delivers billions of pound worth of tax cuts - including a surprise move to scrap the 45% top rate of income tax paid by the UK’s wealthiest. The Chancellor announced sweeping moves intended to rev up the economy in the eagerly-awaited “fiscal event”…

UK chancellor Kwasi Kwarteng has just launched the biggest package of tax cuts in half a century. This will involve around £45bn of reductions for people and businesses by 2027 – 50% more than anticipated before the mini-budget announcement.