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The Latest Breaking News from Tax Cuts

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

The big gamble on tax cuts for the rich that could railroad the economy off the tracks

The Daily Record's Westminster Editor Torcuil Crichton analyses The scale and the brashness of the Tory tax-cutting budget is staggering and Scotland will not be protected from global forces that could be unleashed by massive Treasury borrowing.

Daily Record

Mini budget: will Kwasi Kwarteng's plan deliver growth?

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.

The Conversation

From analysis to the latest developments in health,
read the most diverse news in one place.

Tory backbenchers despair at ‘toxic’ mini-budget

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

The Guardian - UK

All the ways mini-Budget hands thousands to the rich - and pennies to the poor

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

Daily Mirror

Martin Lewis brands Tories’ mini-budget announcements ‘staggering’ as he reacts to tax cuts

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

Chronicle Live

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.

Bangkok Post

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Kwasi Kwarteng: Budget in full

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”…

Evening Standard

Mini budget 2022: experts react to the new UK government's spending and tax-cut plans

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.

The Conversation

11 nasty details in the small print of 'Robin Hood in reverse' mini-Budget

Tax cuts for the rich, no limits on bankers bonuses and tougher benefit sanctions - funded by a £70billion Government borrowing spree. We've trawled through the documents to find all the unfortunate details in Kwasi Kwarteng's mini-Budget

Daily Mirror

Scottish and Welsh leaders say tax cuts for rich are ‘moral bankruptcy’

Nicola Sturgeon and Mark Drakeford criticise UK government over mini-budget that ‘embeds unfairness’

The Guardian - UK

This ‘mini-budget’ is a naked exercise in redistributing wealth upwards

Kwarteng’s borrowing spree will have ugly economic consequences, says Michael Jacobs of Sheffield University

The Guardian - UK

Pound falls below $1.09 for first time since 1985 following mini-budget

Sell-off as investors take fright at prospect of surge in government borrowing to cover huge tax cuts

The Guardian - UK

Trussonomics: Chancellor’s budget marks sharp break in economic policy

The Prime Minister sat nodding approvingly behind Kwasi Kwarteng as the Chancellor announced a multi-billion pound package of tax cuts.

The Independent UK

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The Guardian - UK

‘Right place at the right time’: freeports model gives fillip to St Helens regeneration scheme

Parkside project conceived almost a decade ago is among hundreds poised to benefit from tax cuts and other incentives

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.

The Independent UK

How will mini-budget announcements affect UK households?

The Government has unveiled a raft of tax cuts as part of plans to drive up growth during the cost-of-living crisis.

Al Jazeera

UK mini-budget shakes the stock market, benefits the wealthy

The new finance minister’s tax cuts send the British pound to a 37-year low.

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The National (Scotland)

What do Tory tax cuts for mean for Scotland as gap in rates becomes a gulf?

SCOTLAND’S acting Finance Secretary has said Tory handouts for the super-rich will threaten the SNP’s ambitions for a fairer country and…

Nottingham Post

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

Tax cuts are 'central' to the plan

The Guardian - UK

Kwasi Kwarteng announces ‘investment zones’ with huge tax cuts for businesses

Plans set out in chancellor’s mini-budget include abolishing stamp duty and sweeping aside planning rules

Birmingham Post

Business and home movers in Northern Ireland buoyed by mini-budget but calls intensify for Stormont return

Tax cuts offer some support but resumption of devolved leadership needed to protect economy from current headwinds

Chronicle Live

How the mini-budget affects you - including benefits, tax cuts and stamp duty

The Chancellor announced a series of tax cuts as the cost of living crisis rages on, but the measures drew criticism from Labour as benefitting the richest

The National (Scotland)

'Absolute disgrace': Martin Compston slams Tory tax cuts for the super-wealthy

MARTIN Compston has ripped into the Tories’ mini-Budget which hands huge tax cuts to the super-rich and praised the Scottish Government’s higher…

Wales Online

How much people on different income levels will save from all of Kwasi Kwarteng's tax cuts

Someone on £20,000 a year will get an extra £167.18 a year. A person on £200,000 will save over £5,000 a year in tax.

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