The Latest Breaking News from Paul Johnson

Four games into his fourth season, coach Geoff Collins’ inability to lift Georgia Tech into a competitive realm has cost him not only what he often referred to as his dream job, but also likely the job of the man who hired him, athletic director Todd Stansbury. After the Yellow…

Mr Kwarteng was accused of betting on trickle-down economics

Thinktank says someone earning £1m will gain £40,000 as top rate, basic rate and national insurance reduced

Kwasi Kwarteng’s measures benefit the rich at expense of struggling families, say critics

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.

Institute of Fiscal Studies warned there was no ‘semblance of an effort to make the public finance numbers add up’.

The Chancellor abolished the top rate of income tax for the highest earners.

Tax cuts are 'central' to the plan

‘It is half a century since we have seen tax cuts announced on this scale,’ according to Paul Johnson, director of the IFS .