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The Latest Breaking News from Kwasi Kwarteng

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

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

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

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Universal Credit rule change in full as 120,000 at risk of having benefits cut

Universal Credit is changing, with some people facing the risk of having their benefits cut if they don't work a certain number of hours at the National Living Wage

Daily Mirror

Chancellor’s economic plans will reward ‘already wealthy’, warns Rachel Reeves

Liz Truss and Kwasi Kwarteng are two “desperate gamblers chasing a losing run” with an economic plan rewarding the “already wealthy”, according to shadow chancellor Rachel Reeves. The Labour frontbencher took aim at the Prime Minister and Chancellor as she warned the Government has served up a “menu without prices”,…

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

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Mini Budget: West Midlands business leaders react to Chancellor Kwasi Kwarteng's statement

High-profile business leaders from across the region have shared their views

Birmingham Post

Chancellor's mini Budget "cautiously welcomed" by Welsh business groups

Business leaders and politicians in Wales have had their say on Kwasi Kwarteng's mini Budget

Birmingham Post

Kwarteng throws UK on sacrificial altar of Trussonomics where only bankers win

Chancellor maxes out with morally bankrupt budget that is anything but mini

The Guardian - UK

Alcohol duty freeze welcomed by drinks industry

Kwasi Kwarteng announced that an expected increase in duty rates for beer, cider, wine and spirits would be cancelled.

The Independent UK

Local Conservative MPs back mini-budget tax cut plans despite fierce criticism

Tory MPs from across Greater Manchester have backed the plans that hope to deliver economic growth.

Manchester Evening News

When will the national insurance increase be reversed?

The Chancellor said scrapping the rise will reduce tax for many businesses

Evening Standard

Treasury minister tweets ‘great to see Sterling strengthening’ moments before colossal slump

The drop in the pound was sparked following a series of cuts which were introduced by Kwasi Kwarteng on Friday

Evening Standard

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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

Wales Online

Welsh Government responds to Kwasi Kwarteng's stamp duty cut in England

Ministers will be looking at how the Welsh budget is affected by the Chancellor's plans

The Independent 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.

Daily Mirror

Complicated IR35 tax rules scrapped in Mini-Budget in huge boost for self-employed Brits

Chancellor Kwasi Kwarteng announced a major new tax shake up in the mini budget this morning - and it means self employed workers are expected to receive a big boost

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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

Evening Standard

Pound plummets to fresh 37-year low as markets are spooked as mini-budget unveiled

Sterling declined to a new 37 year low of $1.0899

Bristol Post

Chancellor Kwasi Kwarteng's mini-budget - have your say

Using more than £70 billion of increased borrowing, Kwasi Kwarteng has set out a package which includes abolishing the top rate of income tax for the highest earners. Let us know what you think of his mini-budget announcement

Birmingham Post

Opinion: Don't forget the South West when levelling up the UK

"It’s up to us as business leaders, owners and professionals to make the case for our region"

The Independent UK

Onshore wind farm ban scrapped in mini-Budget OLD REDIRECTED

Campaigners welcome move – but condemn fossil fuel push and plan to weaken environmental protections

Daily Mirror

Graph shows change in income for low and high earners after 'disgraceful' Mini-Budget

The Mini-Budget this morning announced a £45billion tax cut with the richest people potentially benefitting by a huge £10,000 per year, according to Treasury officials

Daily Record

Liz Truss and Kwasi Kwarteng's big gamble could railroad the economy off the tracks

The Daily Record's Westminster Editor Torcuil Crichton analyses Kwasi Kwarteng's mini budget that helps the wealthiest in society.

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