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The Latest Breaking News from Resolution Foundation

Liz Truss kissing goodbye to Red Wall with tax cuts, MPs fear

The £35billion package included the abolition of the top rate of income tax, a cut in the basic rate, a reduction in stamp duty, the cancellation of the National Insurance increase and the scrapping of the rise in corporation tax from 19pc to 25pc

Evening Standard

How homes in the South will gain three times as much than the North after UK tax cuts

Chancellor Kwasi Kwarteng unveiled his mini-Budget on Friday - in which he addressed tax cuts on Stamp Duty, which experts believe will only benefit those living in the South of the United Kingdom

Chronicle Live

Red wall seats are being put at risk by ‘cavalier’ tax cuts, Liz Truss warned

Tories are nervous of the ‘song and dance’ about doing more for high earners and the shift away from levelling-up

The Guardian - UK

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Mini-budget benefits London and south-east England, study shows

Analysis by Resolution Foundation shows 95% of UK population will be worse off after chancellor’s actions

The Guardian - UK

Government dismisses criticism of tax cuts as ‘politics of envy’

It comes as Chancellor Kwasi Kwarteng unveiled the biggest programme of tax cuts for 50 years

Manchester Evening News

How homes in South will gain THREE TIMES as much as those in North from tax cuts

Chancellor Kwasi Kwarteng yesterday unveiled his mini-Budget which included tax cuts on Stamp Duty, which experts believe will only benefit those living in the South of Britain

Daily Mirror

Government says tax cuts flack is 'politics of envy'

Labour accused PM Liz Truss and Chancellor Kwasi Kwarteng of dabbling in 'casino economics'

Wales Online

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'Richest 5 per cent to get richer while 95 per cent get poorer' under Tory plans

THE Tory government's huge package of personal tax cuts amid the cost-of-living crisis will do nothing to stop more than two million people falling…

The National (Scotland)

‘Only the very richest’ in Britain will see incomes grow, tax cut analysis says

Chancellor's huge package of personal tax cuts will do nothing to stop more than two million people falling below the poverty line, says think tank

Wales Online

Kwarteng accused of reckless mini-budget for the rich as pound plummets

Strategy of sweeping tax cuts gets hostile reception from markets and economic thinktanks, leaving some Tory MPs aghast

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

Inflation dips slightly but experts warn cost-of-living crisis is not easing

The consensus across think tanks and economic networks is that this was "entirely driven by falling transport costs" as the prices of food…

The National (Scotland)

Fears 'seven out of 10 pubs won't make the winter' without urgent support to combat energy cost crisis

Hospitality businesses 'sat in limbo' ahead of funding plan

Manchester Evening News

Truss plans ‘skew support’ to richest households, warns Resolution Foundation

There is a case for a ‘solidarity tax’ to recoup some of the cost from those who can pay more, said the think tank.

The Independent UK

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Daily Record

Liz Truss plans to tackle cost of living 'will benefit rich households most'

The new Prime Minister last week announced that typical household energy bills will be limited to £2,500 per year until 2024.

Wales Online

Experts say rich will benefit more than poor from Liz Truss' energy bills freeze

They say it will still be a difficult winter for many

The National (Scotland)

Rich to get 'twice as much' support to help with cost-of-living, think tank claims

RICH households will receive twice as much support to help with the cost of living than poorer ones, a think tank has said.

Daily Mirror

Richest households set to get 'twice as much help' as poorest next year, analysis warns

The Resolution Foundation think-tank also warns of 'nasty sting' in future taxes after prime minister rules out windfall tax to help fund energy bills intervention

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The Guardian - UK

Liz Truss energy and tax plan ‘will give richest families twice as much support’

Thinktank says richest tenth of UK households would receive £4,700 on average, and poorest tenth £2,200

The Guardian - UK

By rejecting a windfall tax, Truss has painted herself into a corner

The ‘handout’ of capped bills is not enough to buy off voters outraged at the excess profits of energy companies, says Guardian columnist Polly Toynbee

The Independent UK

Liz Truss’s rejection of windfall tax ‘to saddle UK with debt for decades’

Bill could be higher than cost of bank bailout after 2008 financial crash, expert warns

Liverpool Echo

Millions set to have £3,000 'wiped' from bank accounts amid cost of living crisis

Typical households are on course to see their real incomes fall by £3,000 over the next two years

AFP

Incoming UK prime minister Truss faces a country in crisis

London (AFP) - The UK's new prime minister, Liz Truss, takes power following a "summer of discontent" and as Britons tighten their belts in response to double-digit inflation and soaring energy costs.

Nottingham Post

Millions of UK households set to face £3,000 drop in income as cost of living worsens

Experts are warning of the biggest fall in real pay in years

Wales Online

Boris Johnson says his successor as prime minister will offer cost of living crisis support

He has piled pressure on the next person to take the office with his assurances that “substantial sums” will be provided

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